AUD,NZD/FXWW News/Technical Analysis

AUD/USD: Still looks reasonably constructive but….

  • Technical picture shows a shallow basing pattern (see chart). 
  • Risk-reward favours buying dips with stops below recent lows.
  • USD bull-bubble has been deflated, but not yet burst.
  • EUR/AUD is nearing important resistance levels again, but AUD/JPY is looking bearish again and a break below 89.35 will trigger more selling.
  1. Hi Sean,
    I was short EURAUD from 1.43 played it till 1.39 ..
    And loaded back again @avg 1.4120 – but this time i’m not really confident –any thoughts of hw its looking on charts

  2. Morning Kailash, very interesting levels for the AUD with major support against USD, JPY and EUR not far away. Another weekly close below 144 will strengthen the top-pickers case in EUR/AUD. Can’t say that I really understand why AUD has weakened on crosses post Fed? I’d say stick with shorts for now but start getting worried above 14325ish

  3. I stopped myself out of my short EURAUD above 1.4250 and console myself that at least I covered half at 1.39

    I was looking for a H&S pattern which has failed imo.

  4. I am crushed by the EURNZD and EURAUD too. Common sense does not always work. The rally from 1390 to 1430 is very steep. Looking for dips to stop my loss.

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