AUD/USD we wrote: holding below 7510/30 keeps the medium term outlook negative and eventually we should retest last week’s low at 7445…
We topped at resistance at 7510/30 perfectly as expected to fall another 75 pips.
NZD/USD sell signal was triggered on Monday. Yesterday we topped exactly at resistance at 7060/70. Shorts worked perfectly as we slide 80 pips to our first target of 6980/70.
AUD/JPY we wrote: outlook negative after yesterday’s bearish engulfing candle. Gains are likely to be limited with strong resistance at 8340/50.
We crashed 100 pips from 8336 yesterday towards very minor support at the June low at 8220/10.
Today’s Analysis
AUD/USD about to retest last week’s low at 7445 as expected then best support this week at 7420/10. Longs need stops below 7399. A break lower is another medium term sell signal initially targeting 7370 and 7340/30.
There is a lot of resistance at 7510/20 and 7540/50. Bulls need a break above 7570 to turn the outlook positive.
NZD/USD holding below first resistance at 7010/20 keeps the outlook negative for today targeting 6980/70. Further losses target 6955/45 before a retest of very minor support at 6930/20.
Gains are likely to be limited with resistance at 7010/20 and 7060/70.
AUD/JPY lower as predicted to targets of 8260/50 and very minor support at the June low at 8220/10. A break below here targets 8120/00.
Gains are likely to be limited with minor resistance at 8280/90. Strong resistance at 8320/30. Shorts need stops above 8345.
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