AUD,NZD/FXWW News/Trade Ideas

AUD starting to look oversold on the crosses

  • AUD/NZD is way too low, with mid-range values for last 20 years around 1.18/1.20;
  • AUD/JPY is another pair soon set to rally imho with super strong technical support at 90.00;
  • GBP/AUD has just reached it’s first technical target at 1.8500 and another big one is looming (38.2% of entire downmove from 2.60) around 1.8800;
  • AUD/USD triggered large stops below .8850 but immediately bounced. It’s certainly in a bearish channel but is seriously oversold.

I’m not saying this is the exact bottom for the AUD but I think we are getting close.

  1. Hi Tom, I think EUR/AUD bullih momentum will soon evaporate and then we get lengthy consolidation. I’m guessing 152/157 or something like that. I don’t expect a big reversal, just normal consolidation. Same applies to AUD/CHF as EUR/CHF unlikely to move v far

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