AUD/USD: Minor Support At 7055/50; NZD/USD: Further Losses Likely

Published 11/01/2018, 01:27 AM

AUD/USD And NZD/USD Weekly Chart

AUD/USD minor support at 7055/50 but below 7040 signals a retest of the low at 7022/18. A break below 7010 signals further losses to 7005/00, 6975/70 and perhaps as far as 6920/25.

Resistance at 7100/10. A break above 7125 targets 7150/55 with a selling opportunity at 7170/80; stops above 7205. NZD/USD tests minor support at 6530/20 but further losses are likely to 6500, 6470/65 and perhaps as far as 6450/45 with the October low at 6428/22.

Another selling opportunity at 6570/80 with stops above 6595. A break higher meets 3 month trend line resistance at 6610 but the best selling opportunity of the week at 6650/60. Stop above 6685.

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