Get started
CityIndex

AUD/USD, NZD/USD hint at a round of risk-off

Short
Australian Dollar / U.S. Dollar (FX_IDC:AUDUSD)  
CityIndex Broker  
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Support and Resistance Candlestick Analysis aud NZD AUDUSD NZDUSD audusdanalysis audusdforecast Forex fx riskoff
3
0
trendanalysis supportandresistance candlestick aud nzd audusd nzdusd audusdanalysis audusdforecast forex fx riskoff
If commodity FX is anything to go by, we could be in for a bout of risk-off. The yen and US dollar were the strongest majors, which saw AUD/JPY and NZD/JPY pull back from cycle highs and form bearish outside days alongside AUD/USD and NZD/USD.

The fact that AUD/USD reversed at its 200-day average and closed beneath the 200-day EMA makes it likely the 2-day bounce from support we anticipated has run its course. And with NZD/USD hitting new cycle lows with a bearish engulfing day and closed beneath its 100/200-day EMAs likely brings 60c into mind for bears, and 65c for AUD/USD bears.

Related Ideas

CityIndex
AUD bears eye break below 65c, but a bounce could be due first
CityIndex
Potential swing trade long for NZD/USD
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.