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AUD/USD: 2017 High Ahead; NZD/USD: First Resistance At 7260/70

Published 01/15/2018, 05:19 AM
Updated 07/09/2023, 06:31 AM

AUD/USD And NZD/USD Weekly Chart

AUD/USD break above 7850/60 is a longer term buy signal as we warned all last week, targeting 7935/40 and 7980/90. Eventually we could see the 2017 high at 8100/8124.

Support at 7890/85 and the downside is expected to be limited but below here a buying opportunity at 7860/50, with stops below 7825.

NZD/USD first resistance at 7260/70 but shorts are more risky now with quite a positive outlook. Be ready to buy a break above 7290 targeting 7340/45 and 7370/75.

First support at 7225/20 held perfectly as predicted and could do so again today. Try longs from here down to 7200/7195 if we fall this far. Longs need stops below 7170.

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