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AUD/USD And NZD/USD Daily Forecast - 12 July 2018

By Jason SenForexJul 12, 2018 03:56AM ET
www.investing.com/analysis/audusd--nzdusd-daily-forecast--12-july-2018-200330508
AUD/USD And NZD/USD Daily Forecast - 12 July 2018
By Jason Sen   |  Jul 12, 2018 03:56AM ET
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AUD/USD & NZD/USD Performance Chart
AUD/USD & NZD/USD Performance Chart

AUD/USD break of 7400/7395 is a sell signal targeting 7350/45 and the low at 7312/08. We then wait for the next signal.

Strong resistance at 7395/7405 a selling opportunity with stops above 7430. An unexpected break higher targets 7445/50 with a selling opportunity at 7490/7500.

NZD/USD topped exactly at our expected high at 6850/60 with shorts working as we break 6795/90 to target the best support today at 6755/45. Good for 100 pips profit taking on shorts but longs are risky. A break below 6730 targets 6720 with a retest of 6695/90 not out of the question.

Gains are likely to be limited but a bounce from 6755/45 targets 6785/90, perhaps as far as 6815/19. Watch for a high for the day.

AUD/USD And NZD/USD Daily Forecast - 12 July 2018
 

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AUD/USD And NZD/USD Daily Forecast - 12 July 2018

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