NZDUSD and AUDUSD stay bearish

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NZDUSD Downside bias despite bounce effort

A rebound attempt Friday, but contained and setting back from below .6945 resistance, sustaining a negative tone from Thursday’s push down through support at .6849 and failure back from below key resistance at .6980 (from .6945), leaving the bias lower for Monday.

The October break of .7128 set an intermediate-term bearish outlook, with risk now easing for a challenge up to .6980, only through which would see the intermediate-term outlook shift back to neutral.

For Today:

  • We see a downside bias for .6846; below here targets 6818/15, maybe .6788.
  • But above .6912 aims for .6945

Intermediate-term Outlook - Downside Risks:

  • We see a negative tone with the bearish threat to .6676/64.
  • Below here targets .6541 and .6343.
  • What Changes This? Above .6980 signals a neutral tone, only shifting positive above .7211.

Resistance and Support:

.6912

.6945*

.6980***

.7003/04**

.7056*

.6846

.6818/15*

.6778**

.6755

.6700

4 Hour NZDUSD Chart

nzdusd chart

AUDUSD Bear theme intact

An extremely erratic tone Friday, spiking higher, but then an intraday setback from below the .7645 barrier (from .7639), to retain negative forces from last Wednesday's spike down to .7549 through .7585/81 supports, keeping the bias back lower Monday.

Late November erosion has eased risk for a challenge up to .7730, only through which would see the intermediate-term outlook shift from bearish back to neutral.

For Today:

  • We see a downside for .7575 and then towards .7549/48, possibly .7533/32
  • But above .7639/45 aims towards .7666

Intermediate-term Outlook - Downside Risks:

  • We see a negative tone with the bearish threat to .7532 and .7331.
  • Below here targets the .7155/41 area.

What Changes This? Above .7730 signals a neutral tone, only shifting positive above .7986.

Resistance and Support:

.7620

.7639/45**

.7666

.7700*

.7730***

.7575

.7549/48*

.7533/32**

.7516

.7495

4 Hour AUDUSD Chart

AUDUSD Chart

 

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