Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

AUD/USD Tests 2-Year Support; NZD/USD's Minor Resistance At 6865/75

Published 12/11/2017, 02:13 AM
Updated 07/09/2023, 06:31 AM

AUD/USD and NZD/USD Weekly Chart

AUD/USD tests very important 2 year trend line support at 7500/7490. A recovery targets 7535 and 7555/59 which could see a high for the day. However further gains target quite strong resistance at 7590/95. A break higher targets 7620/25 then very strong resistance at 7645/55.

Longs at 7500/7490 need stops below 7460. A break lower is a sell signal targeting 7420/10 and 7380/70.

NZD/USD minor resistance at 6865/75 but key to direction is strong resistance at 6935/65. A break above here completes a bullish pattern for a buy signal. If you try shorts be ready to stop and reverse in to longs on a break higher targeting 6980 and minor resistance at 7025/35.

We are trading just above minor support at 6815/10 as I write but below here tests the 6780 low. A break lower targets 6735 and 6715/10.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.