AUD/CHF: Levels, Ranges, Targets

AUD/CHF from Friday’s close at 0.7446, sits not only on a solid base at 0.7134 but most vital break points lie just below at 0.7310 and 0.7263 then 0.7012. AUD/CHF overall is in an uptrend and a buy dips strategy would be the way to go for many days ahead. The upper most of the channel is 0.7583 and 0.7591. At 0.7446 though current price is dead center of the price channel as the bottom is located at 0.7373. A break of 0.7373 then means a run to 0.7310. Any price in the lower 0.7400’s specifically 0.7407 and 0.7403, I would look for longs. In the 0.7460’s to 0.7490’s I would begin to look for shorts. Most important is 0.7489.

AUD/CHF negatively correlates to AUD/USD at minus 83% and means AUD/USD and AUD/CHF will move counter to each other.

AUD/JPY and AUD/NZD: Levels, Ranges, Targets

The first problem in AUD/USD is correlations to AUD/JPY, AUD/NZD and AUD/CHF run minus 73&, Minus 81% and minus 93%. This means a long or short in AUD/USD will see opposite movements in AUD/JPY, AUD/NZD and AUD/CHF. In short, AUD/USD moves opposite AUD/JPY, AUD/NZD and AUD/CHF. Two weeks ago, AUD/CAD also had minus 90% correlations to AUD/USD. What changes correlations in all currency pairs is all must break significant points to allow AUD/USD a remarriage of its main trading pairs.

AUD/NZD from the close at 1.0651 sits on a big line break at 1.0614. This line deserves special attention throughout the week as the break below would see a significant downside move. First targets below 1.0569 and 1.0555. Then 1.0510 and 1.0450. Don’t look for 1.0450 anytime soon as AUD/USD would have to break 0.7808.

On the upside 1.0757 is a huge break point but again AUD/USD would need to break its big points at now 0.7477 and 0.7768. Overall the downtrend in AUD/NZD begins at 1.0513 and uptrend at 1.0713. Current 1.0614 is dead center of the uptrend and downtrend points. Current price sits on a solid base at 1.0205.

Upside points 1.0714, 1.0701. Watch 1.0675, 1.0681 and 1.0683 as big breaks to travel higher.

AUD/JPY. From Friday close at 79.47, big break points are located at 79.63 and 80.34. AUD/JPY just broke 79.63 so next downside targets are 78.85 and 78.75 then 78.44 and 77.97. Again don’t marry the 77.97 target anytime soon as AUD/JPY sits on a big solid base at 76.14. Further, 76.14 means AUD/USD breaks an important line at 0.7808. AUD/USD 0.7808 means much higher on a break.

Break above at 80.34 only achieves 80.94.

Upside points are many. 79.69, 79.71, 79.84, 79.93 thn 80.34 and 80.94.

Brian Twomey, Inside the Currency Market, btwomey.com

GBP/USD:

Bottom Target Signal

1.3369 1.3516 1.3437

1.3270 1.3377 1.3338

1.3198 1.3325 1.3265

1.3099 1.3200 1.3166

1.3066 1.3204 1.3132

Dates not known or times, Serves for last week