AUDUSD NZDUSD Recap & Daily Forecast from Jason Sen – Day Trade Ideas

 

13 Jan, 2020

AUDUSD did not make it as far as support at 6830/20 before a recovery through resistance at 6880/90. Strong resistance at 6920/30 the main challenge for bulls today today.

NZDUSD recovers to first resistance at 6645/55 & topped exactly here.

Today’s Analysis

AUDUSD holding above 6890 meets strong resistance at 6920/30. Try shorts with stops above 6940. A break higher is a short term buy signal targeting 6960, perhaps as far as 6995/99.

Minor support at 6890/80 before the correction low at 6846 last week. Better support at 6830/20 this week. Longs need stops below 6805 for the next sell signal targeting 6985/90 & 6920/25.

NZDUSD holding first resistance at 6645/55 perfectly but above 6665 opens the door to 6675 & 6685/90. Expect strong resistance at 6715/25. Try shorts with stops above 6755.

Shorts at 6645/55 target 6625/20. Below 6615 meets very minor support at 6595/90. Further losses look likely for 6580 then strong support at 6545/35. Longs need stops below 6515.

Trends

Weekly outlook is neutral Daily outlook is neutral
Short Term outlook is negative

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About the author

JASON SEN Began to study technical analysis in 2006 and established Daytradeideas, the leading provider of daily technical analysis to independent & professional traders within the investment bank community for Stock Index, Energy & Fixed Income products, advising dozens of traders at up to 15 major investment banks and hedge funds on market movement, throughout each trading day on The Bloomberg Professional® service with trade ideas – entry, exit and target levels in daily reports published before the Futures markets open in Europe.