trades from strong support at 7420/10 up to first resistance at 7490/99 in a developing sideways trend. A good market for scalpers!

held inside Wednesday’s range.

we wrote: breaks minor support at 8220/00 targeting 8190 then best support at 8120/00…

Unfortunately we missed the target by 23 pips.

Today’s Analysis

AUD/USD longs from strong support at 7420/10 target 7460 and first resistance at 7490/99 for profit taking. A break higher today targets resistance at 7545/55. Watch for a high for the day. However bulls need a break above 7585/95 for a medium term buy signal.

Holding minor resistance at 7490/99 keeps us in the sideways range for today retargeting 7465/50 before strong support at 7420/10. Longs need stops below 7395. A break lower is a sell signal initially targeting 7365/60.

NZD/USD first resistance at 7045/55. 200 day moving average resistance at 7075/85. A break higher however targets 7100/05 then resistance at 7120/30.

Holding below 7010/7000 this morning risks a slide to 6930/20. A break below 6910 is a sell signal targeting 6890 and 6855/45.

AUD/JPY holding first resistance at 8190/8210 risks a slide to towards best support at 8120/00. Longs need stops below 8080. A break lower is a sell signal targeting 8045/35 then 8010/00.

First resistance at 8190/8210. Further gains test strong resistance at 8235/45. A break above 8260 targets 8300/10.

AUD Chart

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