AUD/USD, NZD/USD Forecast - Feb 25, 2020
Jason Sen | Feb 25, 2020 06:27AM ET
AUD/USD signalling a more sideways direction at the start of this week & this is likely to continue mid-week.
Get The News You Want
Get The News You Want
NZD/USD also sideways as expected yesterday & likely to continue sideways today.
Get The News You Want
Get The News You Want
AUD/USD trades sideways as predicted, as we move to a scalping strategy, rather than selling in to strength and holding shorts. Gains are likely to be limited with minor resistance at 6620/23 & again at 6645/48. Above 6655 meets a selling opportunity at 6680/90, with stops above 6705.
Get The News You Want
Failure to beat 6620/23 risks a retest of 6590/80. A break lower always possible in the bear trend to target 6565/55 & perhaps as far as 6535/25.
Get The News You Want
Get The News You Want
NZD/USD gains are likely to be limited with first resistance at 6345/50 (holding yesterday) & 2nd resistance at 6370/75. Shorts need stops above 6385 for a selling opportunity at 6405/15. Stop above 6430.
Get The News You Want
Shorts at 6370/75 target 6350/45 for some profit taking, perhaps as far as 6310/00. A break lower is always possible in the bear trend targeting 6280/75 & 6240/30.
Get The News You Want
Trends
Get The News You Want
Weekly outlook is negative
Get The News You Want
Daily outlook is negative
Get The News You Want
Short Term outlook is negative
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.