NZDUSD and AUDUSD See Shifts from Negative to More Positive

Technical Analysis

The New Zealand and Australian Dollars have produced more positive shifts over the past week since early June, which has seen a change in direction bias into mid-June for both NZDUSD and AUDUSD.

NZDUSD had previously been pointing to a bearish resolution to the current range theme, but the risk has now shifted for a bullish shift (which would be signalled above .7054).

In addition, the AUDUSD bear theme has been revered for a broader range theme. However, the very near term bias is to the upside within the intermediate-term range.

NZDUSD

A firm advance Wednesday to push above .6997 and probe into the .7025/30 resistance area to reinforce the dip and firm bounce Tuesday (as also seen Monday) from above .6875/70 support (off of .6888) and the Friday surge (after the US Employment report), to keep a bullish bias Thursday.

Strong risk is now for a shift to an intermediate-term bullish tone above .7054.

For Today:

  • We see an upside bias through .7025/30; break here aims for critical .7054.
  • But below .6970 aims for .6945/25 and opens risk down to .6888.

Short/ Intermediate-term Range Parameters: We see the broad range defined by .7054 and .6664.

Range Breakout Challenge

  • Upside: Above .7054 aims higher for .7232 and .7396/7413.
  • Downside: Below .6664 sees risk lower for .6572/41, .6418 and .6343.

Daily NZDUSD Chart

NZDUSD

AUDUSD

A probe higher Wednesday to nudge above.7478 resistance to reinforce the strong extension rally Tuesday through the key .7402 level (for an intermediate-term shift from bearish to neutral) and to maintain an upside bias into Thursday.

For Today:

  • We see an upside bias for .7481; break here aims for .7517 and maybe .7550/60.
  • But below .7427 opens risk down to .7358.

Short/ Intermediate-term Range Parameters: We see the range defined by .7719 and .7141.

Range Breakout Challenge

  • Upside: Above .7719 aims higher for .7835/49/78 and .8000.
  • Downside: Below .7141 sees risk lower for .7106/.7000/.6971 and .6825.

Daily AUDUSD Chart

AUDUSD

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