Both Australian and New Zealand Dollars bullish

Published: 26 June 2017

  • Both the Australian and New Zealand Dollars produced bullish intermediate-term shifts against the US Dollar in mid-June, leaving the threat into late June and through into July for further upside activity.
  • Despite recent corrective consolidation activity for both AUDUSD and NZDUSD currency rates, underlying upside pressures remain intact in the very near term as well.

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AUDUSD - Upside bias

An unexpected rebound effort Friday with general USD weakness, pushing above minor resistance and in the very near term rejecting the recent setback, shifting the bias higher for Monday.

Furthermore, the mid-June surge through the .7611 level shifted the intermediate term outlook to bullish.

For Today:

l We see an upside bias for .7589; break here aims for the .7624/7636 peaks.

l But below .7532 opens risk down to .7516, potentially close to .7495.

Intermediate-term Outlook - Upside Risks:

l We see a positive tone with the bullish threat to .7750.

l Above here targets the .7835/49/78 area.

What Changes This? Below .7368 signals a neutral tone, only shifting negative below 8.7331.

 

4 Hour AUDUSD Chart

 AUDUSD Chart

NZDUSD - Upside threat

As expected another push higher Friday to sustain the robust tone after the RBNZ Meeting Thursday, rebounding from above support at .7181 and in the .7169/64 area, keeping the risk higher for Monday.

Moreover, the mid-June push through .7247 sets a bullish outlook into at least the balance of of June.

For Today:

l We see an upside bias for .7299; break here aims for. 7320 and .7334.

l But below .7245 opens risk down for .7194 and .7181.

Intermediate-term Outlook - Upside Risks:

l We see a positive tone with the bullish threat to .7376.

l Above here targets .7403 and .7485.

What Changes This? Below .7003 signals a neutral tone, only shifting negative below .6814.

4 Hour NZDUSD Chart

 NZDUSD Chart

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