AUD/USD And NZD/USD Daily Forecast For September 7, 2018

Published 09/07/2018, 03:28 AM

AUDUSD & NZDUSD

AUD/USD holding support at 7152/42 targets first resistance at 7195/7205, perhaps as far as strong resistance at 7225/29. Watch for a high for the day. Shorts need stops above 7250.

First support at 7152/42 in oversold conditions. I think we will start a sideways trend, perhaps to build a base before a recovery. Longs need stops below 7125. A break lower however targets 7115 & 7100.

NZD/USD did hold 6600/10 for a dip to 6575/6565 but after almost 5 months of declines I wonder if this is the start of at least a sideways trend, perhaps to build a base for a recovery. On further losses we see if 6540/30 holds again.

Holding 6575/6565 re-targets 6600/10. On further gains look for 6625 then strong resistance at 6650/55. Try shorts with stops above 6680.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.