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Daily FX Outlook: AUD/USD, NZD/USD, USD/CAD, USD/SGD

Published 02/25/2013, 05:26 AM
Updated 07/09/2023, 06:31 AM
AUD/USD
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USD/CAD
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NZD/USD
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USD/SGD
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III
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III
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III
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AUD/USD

AUD

We prefer to view that the pair is still in wave [b] consolidation while the near term support 1.0220 holds. Immediate term resistance is at 1.0340/1.0375. A move above would test 1.0415/1.0460 resistance before failing. A break below 1.0220 however would test the strong 1.0150/1.0100 support.


NZD/USD

NZD

The pair may have made a short term top 0.8535 with a multi week wedge pattern (Break of 0.8295 would confirm the view). The wave B correction may become complex with series of abc waves. A move above 0.8405 (H&S neckline) could refocus on 0.8450/0.8490. A reversal below 0.8345/0.8295 could aim for 0.8210/0.8150.


USD/CAD
CAD

The pair’s multi-week corrective uptrend could test the 1.0360/1.0450 resistance. An Immediate term high may be in place at 1.0260. A reversal below 1.0200 could retest 1.0160 in a wave (iv) before renewing. A move above 1.0260 would extend the wave (iii) toward 1.0300/1.0340.

USDSGD
SGD

The pair is appeared to be still in a wave [b] consolidation. Range consolidation would continue if 1.2340 holds. A break below 1.2340 however, could test the 1.2310 support. A break above 1.2430/1.2455 could target the 1.2485/1.2560 resistance.

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