AUD/USD in a sideways trend for the whole of 2020. The pair is now using 7715/25. NZD/USD 500 week moving average resistance at 7300/10 is key to direction this week.
AUD/JPY still sideways and held a range of less than 200 throughout May. A great scalpers market.
Today’s Analysis
AUD/USD meets 100 month moving average resistance at 7770/80. Shorts need stops above last week’s high at 7795. A break above the 2-week highs at 7810/14 should be a buy signal.
Minor support at 7720/00 and again at the May low at 7685/75. A break below 7665 risks a slide to 7625/20, perhaps as far as the February/March/April low at 7570/60.
NZD/USD meets key 500 week moving average resistance at 7300/10. Shorts need stops above 7325. A break higher is a strong buy signal initially targeting 7370/80 then the 2021 high at 7455/65.
Shorts at 500 week moving average resistance at 7300/10 target 7555/50 and a buying opportunity at 7230/20. Stop below 7205. Note 100 day moving average support at 7180/70. A break below 7160 is a sell signal targeting 7120/10 and 7090/80.
AUD/JPY holding above 8460/70 re-targets 2 week highs at 8510/20. A break higher this week targets the 2021 high at 8570/80.
First support at 8470/60 but below here can target 8425/20, perhaps as far as 2 week lows at 8400/8390. Longs need stops below 8380.
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