AUD/USD And NZD/USD Daily Forecast - 27 August 2018

Published 08/27/2018, 12:40 AM

AUDUSD & NZDUSD

AUDUSD retested the 7345/55 area & we topped exactly here. The surprisingly strong recovery makes me wonder if we are entering a sideways trend. Failure to beat 7345/55 targets 7310/00. Below 7290 look for 7260 & 7230 before the low at 7210/00.

Shorts at 7345/55 need stops above 7375. Minor trend line resistance at 7395 but above here targets a selling opportunity at 7420/30. Try shorts with stops above 7470.

NZDUSD higher as predicted to ease short term oversold conditions & all targets hit as far as our selling opportunity at 6695/6705 with stops above 6720. Try shorts again at 6740/45, with stops above 6775.

Failure to beat 6695/6705 targets 6665/60, 6630 & 6615/10. On further losses look for 6575/70 before the August low at 6550/40.

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