AUD/USD, NZD/USD Daily Forecast: October 23, 2017
Jason Sen | Oct 23, 2017 07:52AM ET
AUD/USD holding below at 7835/31 is a sell signal targeting 7790 & 7770/65, perhaps as far as the 2-week low at 7735/30.
First resistance at 7830/35. Try shorts with stops above 7860. Next target & strong resistance at 7880/85. Try shorts with stops above 7900.
NZD/USD tests 2-year trend line support at 6960/50 as we over run to 6934. Obviously this is the most important level of the day but certainly no buy signal as I write. If you feel brave enough (it's very risky) to try longs use stops below 6910. A break below 6910 is a sell signal targeting 6885/80, 6860 & the 2017 low at 6820/16.
If a bounce is seen look for 6955/60, 6970/74, perhaps as far as resistance at 6995/99 but gains are likely to be limited to be limited at this stage.
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