AUD/USD Approaches Strong Resistance
Jason Sen | Nov 29, 2021 06:06AM ET
- AUD/USD shorts at 7210/00 worked perfectly after the sell signal targeting 7170/65 and 7120/10 for a potential 90 pips profit, with a low for the day exactly here.
- NZD/USD we wrote: hit the next target of 6855 as we look for 6810. Our trade hit this target after a 57 pip drop.
- AUD/JPY shorts at 8310/20 offered up to 200 pips profit on the slide to 8110/00. Longs were stopped below 8075 before we hit the next target of 8055/50, with a low for the day. h2 Today's Analysis/h2
AUD/USD shorts at 7210/00 working after the sell signal targeting 7170/65 and 7120/10. Further losses look likely when we open towards first support at 7070/50 in oversold conditions. A break lower targets 7000.
Gains are likely to be limited with minor resistance at 7150/55. Strong resistance at 7175/85. Shorts need stops above 7195 but try shorts again at 7215/25, with stops above 7235.
NZD/USD hit the targets of 6855 and 6810. We are expecting strong support at 6780/60. Longs need stops below 6730.
Gains are likely to be limited with minor resistance at 6835 and strong resistance at 6855/65. Shorts need stops above 6875. Try shorts at 6890/6900, with stops above 6915.
AUD/JPY hit all the downside targets as far as 8055/50. Further losses meet solid support at 8010/7990. Longs need stops below 7960.
Gains are likely to be limited at this stage, with the first resistance at 8110/30. Strong resistance at 8180/8200. Shorts need stops above 8220.
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