AUD/USD And NZD/USD Daily Forecast - 12 July 2018
Jason Sen | Jul 12, 2018 03:56AM ET
AUD/USD break of 7400/7395 is a sell signal targeting 7350/45 and the low at 7312/08. We then wait for the next signal.
Strong resistance at 7395/7405 a selling opportunity with stops above 7430. An unexpected break higher targets 7445/50 with a selling opportunity at 7490/7500.
NZD/USD topped exactly at our expected high at 6850/60 with shorts working as we break 6795/90 to target the best support today at 6755/45. Good for 100 pips profit taking on shorts but longs are risky. A break below 6730 targets 6720 with a retest of 6695/90 not out of the question.
Gains are likely to be limited but a bounce from 6755/45 targets 6785/90, perhaps as far as 6815/19. Watch for a high for the day.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.