NZD/USD: A break above 0.6150 is a buy signal
|AUD/USD – NZD/USD
AUDUSD shorts at 6500/10 stopped above 6535, but we did return to 6510/00 for a buying opportunity before reaching 6458, almost as far as the 100 day moving average at 6565/75 for a small net profit on the day.
NZDUSD we wrote: holding above 6060/70 is a buy signal targeting 6105/10 & first resistance at 6125/30. Shorts need stops above 6145.
We rallied from 6049 to 6125/30 & topped at 6143.
Daily Analysis
AUDUSD holding strong support at 6510/00 re-targets 6535/40 with strong resistance at the 100 day moving average at 6560/65. Shorts need stops above 6580. A break higher meets a selling opportunity at 6630/50, with stops above 6690.
Longs at 6510/00 need stops below 6485 for a test of support at 6450/45.
NZDUSD breaking above 6150 is a buy signal targeting 6180/90 & a selling opportunity at 6200/10 with stops above 6235.
Holding strong resistance at 6130/40 targets 6110/05 with first support at 6090/80. Try longs at 6055/45 with stops below 6030.
Trends
Weekly outlook is negative.
Daily outlook is neutral.
Short Term outlook is positive.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.