AUD/USD, NZD/USD, AUD/JPY Daily Forecast
Jason Sen | May 20, 2021 04:55AM ET
AUD/USD broke first support at 7770/60, which is now working well as resistance. We bottomed exactly at strong support at 7725/15. The trend is still sideways.
NZD/USD broke first support at 7220/10 hitting our buying opportunity at 7170/60.
The trend is still sideways.
AUD/JPY longs at strong support at 8480/40 are not working!! The trend is still sideways.
h2 Today’s Analysis/h2AUD/USD is holding first resistance at 7770/80 but risks a retest of strong support at 7725/15. Longs need stops below 7700. A break lower will retest last week’s low at 7686. A break lower is a sell signal targeting 7675/65 and 7625/20, perhaps as far as 7370/60.
First resistance at 7770/80, but above here, can target re-targets 7800/10, perhaps as far as 7840/50. Watch strong 500 month moving average resistance at 7880/85.
NZD/USD longs at our buying opportunity at 7170/60 targets first resistance at 7210/20. Shorts need stops above 7230. A break higher re-targets 7245/50 and 7260/70, perhaps as far as very strong resistance at 7300/10. Shorts need stops above 7325. A break higher is a strong buy signal initially targeting 7370/80.
A buying opportunity at 7170/60, stop below 7140. A break lower targets 7115/05, perhaps as far as 7080/70.
AUD/JPY holding below 8430 is a sell signal targeting 8370/60 and 8320/10.
Bulls need to hold prices above 8450 for a chance to retest 8515/25. Further gains target 8560/80.
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