NZDUSD Stays Strong, whilst AUDUSD Keeps a Positive Tone

Published: 20 June 2016

Video Analysis




The Australian and New Zealand Dollars have kept their positive tones against the US Dollar evident for much of June, with the NZDUSD maintaining the underlying, intermediate-term bullish trend.

AUDUSD is still confined within a broader range, but the firm tone since the Wednesday 15th June FOMC Meeting still keeps a positive AUDUSD outlook within the broader range environment.

AUDUSD

A firm rebound effort after Thursday spike lower, to recover off of .7284 and push above .7334 and .7774 resistances, to reinforce the intermediate-term range theme, but to now leave an upside bias for Monday.

For Today:

  • We see an upside bias for .7455; break here aims for .7471, maybe .7504.
  • But below .7350 opens risk down to .7284. Maybe .7275/70

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

NZDUSD

An erratic Thursday-Friday to leave some upside pressure from the bullish outside pattern Wednesday, to set a bull bias for Monday.

Furthermore, the previous surging rally above .7054, in reaction to the 09/06 RBNZ announcement, produced a shift to an intermediate-term bullish view.

For Today:

  • We see an upside bias for .7148/53; break here aims for .7200, maybe .7232/72.
  • But below .7000 opens risk down to .6966/60.

Short/ Intermediate-term Outlook - Upside Risks: A shift to an intermediate-term bullish tone above .7054.

  • We see a positive tone with the bullish threat to 7232/72.
  • Above here targets 7396/7413 and .7564.

What Changes This? Below .6888 eases bull risks; through .6800 signals a neutral tone, only shifting negative below .6676.

Daily NZDUSD Chart

nzdusd

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