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AUD/USD Building Slow Recovery; NZD/USD Likely To Trade Sideways

Published 05/24/2018, 03:43 AM
Updated 07/09/2023, 06:31 AM

AUD/USD And NZD/USD Weekly Chart

AUD/USD is building a very slow recovery and I do think this can continue higher but we will need to beat 7565 & then 7580/85.

Once we sustain a break above here we target 7600/05 and 7655/60 before strong resistance at 7685/90.

Our longs at 7575/65 failed yesterday but if we dip to 7520/10 today it could be worth a long with stops below 7485.

NZD/USD likely to trade sideways with no clear indication of direction now. We could hold a range of 6870/50 up to resistance at 6970/80. A break above 6995 confirms further gains towards 7010, 7030 and 7055/60.

Within the range we have minor resistance at 6930 and minor support at 6900.

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