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AUD/USD, NZD/USD And AUD/JPY Daily Forecast

By Jason SenForexMay 06, 2021 07:02AM ET
AUD/USD, NZD/USD And AUD/JPY Daily Forecast
By Jason Sen   |  May 06, 2021 07:02AM ET
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AUD/USD has been trading up one day, down the next day in the sideways trend for 6 weeks. The pair has held a range of just 150 pips in this period. Quite unbelievable! Yesterday we recovered Tuesday’s losses holding first resistance at 7740/50. Not unexpected!

NZD/USD also recovers Tuesday’s losses – holding above 7200 targets 7240/45.

AUD/JPY remains in a sideways trend for 2 months in a range of only 200 pips for the last 5 weeks.

Today’s Analysis

AUD/USD holding first support at 7710/00 retests first resistance at 7740/50. A break higher targets 7780/90.

Below 7700 risks a retest of 7675/70 with support at 7630/20. Longs need stops below 7610.

NZD/USD holding above 7200 targets 7240/45 before a retest of 7275/85. Very strong resistance at 7300/10.

Holding below 7190 risks a slide to 7155/45, perhaps as far as 7115/10.

AUD/JPY holding below 500 week plus 200 and 100 month moving average resistance at 8440/70 is negative for this week. Yesterday we collapsed from 8480. First support at 8395/85 (we bottomed here this week) but below 8375 targets 8355/45, perhaps as far as support at 8310/00.

Key resistance at 8440/70. Shorts need stops above 8510. A break higher this week targets the March high at 8534/45.

AUD Chart
AUD Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

AUD/USD, NZD/USD And AUD/JPY Daily Forecast

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AUD/USD, NZD/USD And AUD/JPY Daily Forecast

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