AUD/USD And NZD/USD Daily Forecast - 23 May 2018
Jason Sen | May 23, 2018 07:36AM ET
AUD/USD break above 7555/65 is a buy signal and we topped exactly at the first target of 7600/05. Further gains target 7655/60 and strong resistance at 7685/90.
Try longs at 7575/65, with stops below 7530. Further losses likely to retest the low this week at 7500.
NZD/USD outlook positive and likely to head higher to ease oversold conditions. Buy down to 6935/25 on any weakness with stops below 6890. A break lower risks a retest of of the low at 6850.
We are expected to head higher eventually targeting minor resistance at 6975/80. We should struggle initially but shorts are risky. A break above 6995 confirms further gains towards 7010, 7030 and 7055/60.
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