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

By Jason SenForexJul 16, 2021 02:44AM ET
www.investing.com/analysis/audusd-nzdusd-and-audjpy-forecast-200591812
AUD/USD, NZD/USD And AUD/JPY Forecast
By Jason Sen   |  Jul 16, 2021 02:44AM ET
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AUD/USD trades from strong support at 7420/10 up to first resistance at 7490/99 in a developing sideways trend. A good market for scalpers!

NZD/USD held inside Wednesday’s range.

AUD/JPY we wrote: breaks minor support at 8220/00 targeting 8190 then best support at 8120/00…

Unfortunately we missed the target by 23 pips.

Today’s Analysis

AUD/USD longs from strong support at 7420/10 target 7460 and first resistance at 7490/99 for profit taking. A break higher today targets resistance at 7545/55. Watch for a high for the day. However bulls need a break above 7585/95 for a medium term buy signal.

Holding minor resistance at 7490/99 keeps us in the sideways range for today retargeting 7465/50 before strong support at 7420/10. Longs need stops below 7395. A break lower is a sell signal initially targeting 7365/60.

NZD/USD first resistance at 7045/55. 200 day moving average resistance at 7075/85. A break higher however targets 7100/05 then resistance at 7120/30.

Holding below 7010/7000 this morning risks a slide to 6930/20. A break below 6910 is a sell signal targeting 6890 and 6855/45.

AUD/JPY holding first resistance at 8190/8210 risks a slide to towards best support at 8120/00. Longs need stops below 8080. A break lower is a sell signal targeting 8045/35 then 8010/00.

First resistance at 8190/8210. Further gains test strong resistance at 8235/45. A break above 8260 targets 8300/10.

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 Forecast
 

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

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