AUD/USD Tests 2-Year Support; NZD/USD's Minor Resistance At 6865/75
Jason Sen | Dec 11, 2017 02:13AM ET
AUD/USD tests very important 2 year trend line support at 7500/7490. A recovery targets 7535 and 7555/59 which could see a high for the day. However further gains target quite strong resistance at 7590/95. A break higher targets 7620/25 then very strong resistance at 7645/55.
Longs at 7500/7490 need stops below 7460. A break lower is a sell signal targeting 7420/10 and 7380/70.
NZD/USD minor resistance at 6865/75 but key to direction is strong resistance at 6935/65. A break above here completes a bullish pattern for a buy signal. If you try shorts be ready to stop and reverse in to longs on a break higher targeting 6980 and minor resistance at 7025/35.
We are trading just above minor support at 6815/10 as I write but below here tests the 6780 low. A break lower targets 6735 and 6715/10.
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