AUD/USD And NZD/USD Daily Forecast: 03 September 2018

Published 09/03/2018, 06:53 AM

AUDUSD & NZDUSD

AUDUSD closed below 7210/00 as the outlook remains negative. Below 7170 targets the 2017 low at 7156/52. A break below the May 2017 at 7142 targets 7115 & 7100.

Gains are likely to be limited in the bear trend. First resistance at 7216/20 but 7243/47 more of a challenge. Shorts need stops above 7275.

NZDUSD bottomed 5 pips below 6615/10. Although this is the best support for today, longs are too risky. A break lower targets 6578/68 then the August low at 6547/42.

Outlook negative so gains are likely to be limited with first resistance at 6632/36. Watch for a high for the day at 6650/60 with stops above 6685.

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