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AUDUSD Upside Threat Intact, as NZDUSD Switches to More Negative

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A still bullish tone for the AUDUSD FX rate into late February, maintaining the upside threat seen all through this year, in 2017 as we discussed here before.

Conversely, the move lower by NZDUSD since the earlier February RBNZ meeting, has not only eased upside pressures, but sees risks of a further move lower into late February and March.

AUDUSD

Another setback at the end of last week, but holding above .7632 and firm support established at .7615/02, whilst the new cycle high Thursday keeps risks higher Monday.

Furthermore, the threat into February remains for a push above .7778, which would see an intermediate-term bullish shift.

For Today:

  • We see an upside bias for .7710/15; break here aims for .7732/42, maybe up to key .7778.
  • But below .7632 opens risk down to .7615/02, maybe .7547.

Short/ Intermediate-term Range Parameters: We see the range defined by .7155 and .7778.

Range Breakout Challenge

  • Upside: Above .7778 aims higher for .7835/49/78 and .80000.
  • Downside: Below .7155 sees risk lower for .7141, .7106, .6971 and maybe .6825.

Daily AUDUSD Chart

AUDUSD Chart

NZDUSD

A setback since after a probe Thursday above resistance at .7218/25/30 (back from .7242), to leave negative pressures from the earlier February sell off through various 2017 recovery supports, setting the bias lower for Monday.

Furthermore, the threat has eased for an intermediate-term bullish shift above .7403.

For Today:

  • We see a downside bias for .7131; break here aims for the .7113/7092 area.
  • But above .7242 opens risk up to .7280/85.

Short/ Intermediate-term Range Parameters: We see the range defined by .7403 and .6867.

Range Breakout Challenge

  • Upside: Above .7403 aims higher for .7485, .7564 and .7744.
  • Downside: Below .6867 sees risk lower for .6800, .6676/64, .6572/41 and maybe as deep as .6343.

4 Hour NZDUSD Chart

NZDUSD Chart