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AUD and NZD Secure Bases versus USD; Bullish Risks

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Updated:

Both the Australian and New Zealand Dollars have now pushed above important resistance points in early October to leave a bullish tone into mid-month.

AUDUSD

  • The push above .7275/80 (September shooting star candlestick patterns) on Friday sees a broader range theme now for October.
  • However, this positive move also sets a positive tone for mid-month, with risk of a bullish shift (above .7440).

Short/ Intermediate-term Range Parameters: We see the range defined by .6936 and .7440.

Range Breakout Challenge

  • Upside: Above .7440 aims higher for .7499 and .7681.
  • Downside: Below .6936 sees risk lower for 6894, .6857 and .6645.

Daily AUDUSD Chart

AUDUSD Chart

NZDUSD

  • A solid tone Friday to overcome .6708, to reinforce the October rally through key .6561 resistance, that sees a switch to a bullish tone for October.

Short/ Intermediate-term Outlook – Upside Risks:

  • We now see a positive tone with the bullish threat to .6772/88.
  • Above here targets .7000/09/12 and .7232.

What Changes This? Below .6473 signals a neutral tone, only shifting negative below .6232.

Daily NZDUSD Chart

NZDUSD Chart