AUD/USD And NZD/USD Daily Forecast: August 20, 2018
Jason Sen | Aug 19, 2018 03:04AM ET
AUD/USD oversold and bounced through 7260/70 to within 6 pips of key resistance at 7325/30. Above here is more positive targeting 7355/60 and resistance at 7395/99.
Failure to beat key resistance at 7325/30 targets 7300/7295 and 7260. Below 7250 risks a retest of 7200. Further losses target 7175/70.
NZD/USD closed above 6620/25 to target a selling opportunity at 6655/65 on Monday, with stops above 6680. If we break higher look for 6695/99 and a selling opportunity at 6735/45. Stop above 6765.
Minor support at 6620/25 but below here targets 6575/70 before the low at 6550/40. A break lower is always possible in the bear trend despite oversold conditions targeting minor support at 6520/15.
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