Inside the Currency Market : AUD/USD & AUD/NZD

AUD/USD. Bottom 0.7312. That’s 22 pips lower since last night’s 0.7334 bottom. Ranges below 0.7324 and 0.7275. Watch the bottom point at 0.7312 as 0.7324 must break below to achieve that target. Ranges above 0.7373 and 0.7423. See ranges are now tightening up since the RBA decision as mentioned. A cluster exists at 0.7348, 0.7349 and 0.7350.

Strategy. A break of 0.7450 targets overbought sell point at 0.7370 and range top at 0.7373. A break below 0.7348 targets range bottom at 0.7324 then 0.7312 on a break lower at 0.7324.

AUD/NZD. Bottom 1.1233. Range break below 1.1251 then 1.1177. Above 1.1402. Overbought sell point 1.1323, target 1.1290. Break of 1.1290 targets range bottom at 1.1251 then 1.1233 on a break. A cluster of points exists at 1.1289, 1.1290, 1.1291. Resolution of these points decides AUD/NZD direction. From 1.1323, then 1.1301, 1.1291, 1.1290, 1.1289, Then range target 1.1251 and bottom at 1.1233.

AUD Employment is due.

Brian Twomey Inside the Currency Market, btwomey.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s