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NZDUSD and AUDUSD upside threats

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  • A weakening of the US Dollar has been evident since the December 2017 rate hike, with a notable setback for the greenback through the late 2017 holiday season.
  • For the AUDUSD the surge up through .773 in latter 2017 has indicated a more bullish intermediate-term outlook for at least January 2018.
  • The NZDUSD forex rate rally from December was reinforced by the push through .6980, which leaves an upside bias for at least early Q1 2018.

AUDUSD Bull theme extends

A dip and a bounce Friday to yet another new rally high rebounding in early January from above initial support at .7793, extending the bullish outlook from the holiday season push above the key .7730 level, aiming higher again Monday.

Furthermore, the December break above the .7730 level shifted the intermediate-term view to bullish.

For Today:

  • We see an upside bias through .7875; break here quickly aims for the .7886/97 area, maybe through .7900.
  • But below .7831 opens risk down to .7793, possibly towards .7760.

Intermediate-term Outlook – Upside Risks:

  • We see a positive tone with the bullish threat to the .7886/97 area.
  • Above here targets .8000 and .8125.
  • What Changes This? Below .7635 signals a neutral tone, only shifting bearish below .7500.

Resistance and Support:

.7875 .7886** .7897** .7940/45 .7986/91**
.7831 .7793 .7760 .7710** .7651*

4 Hour AUDUSD Chart

AUDUSD Chart

NZDUSD Bull trend reinforced

Another upside extension Friday above the important .7163 impulse resistance level, building on the previous early 2018 positive consolidation above our .7051 support level, keeping risks higher for Monday.

The mid-December push above .6980 produced an intermediate-term shift to a bullish theme, reinforced by the late 2017 holiday season rally.

For Today:

  • We see an upside bias through .7186 for .7200; break here aims for the .7211/18 area, maybe towards .7244.
  • But below .7140 aims for .7109, maybe towards the .7070/69 area, which we would look to try to hold.

Intermediate-term Outlook – Upside Risks:

  • We see a positive tone with the bullish threat to the .7211/18 area.
  • Above here targets .7434 and .7558.
  • What Changes This? Below .6951 signals a neutral tone, quickly shifting bearish below .6778.

Resistance and Support:

.7186 .7200 .7211/18** .7244 .7295*
.7140 .7109* .7070/69 .7051 .7008**

4 Hour NZDUSD Chart

NZDUSD Chart