AUD/USD tested strong support at 7150/40 but over ran quite far to 7104.
NZD/USD breaks support at 6860/40, which was not a surprise, for a sell signal.
AUD/JPY broke strong support at 7950/30 for a sell signal targeting 7870/60 and 7810/00. Targets hit as we bounced from 7786.
Today’s Analysis
AUD/USD has strong support at 7140/20, but a break below the 2 month descending trend line support at 7090 is a sell signal initially targeting the longer term 38.2% Fibonacci support at 7060/50. Although this may hold on the first test this week, I doubt it will hold all week. A break below 7040 is an important longer term sell signal. Gains are likely to be limited with first resistance at 7175/85. Strong resistance at 7220/30. Shorts need stops above 7245.
NZD/USD breaks 6860/40 for a sell signal targeting strong support at 6765/45. There is also strong support at 6710/00. The pair should bounce within this wide range. Today gains are likely to be limited with resistance at 6870/80. Unlikely, but if we continue higher look, for a sell opportunity at 6910/20. Stop above 6930.
AUD/JPY support at 7810/00 in oversold conditions. Longs need stops below 7780. A break lower is a sell signal targeting 7740, 7710/00 and probably as far as strong support at 7680/70. Longs at 7810/00 target 7860 with first resistance at 7895/7905 for profit taking.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.