AUDUSD – Price has his temporary support and has been trading in a range for about 7 weeks. Recent price action has suggested that AUDUSD might be able to move up. I would but about 50%of today’s candle range (provided price close like this tonight). The confirmation would be a price close above 0.8661. My first target would be 0.8813 and second target would be 0.8888. Stops would be a close below 0.8566.
NZDUSD – Like its close counter part, the kiwi also looks like its ready to move up. The confirmation would be a price close above 0.7881. My first target would be 0.7985 and second target at 0.8065. Stops would be a close below 0.7806.
As usual shift stops to one pip above entry once first target is achieved. Recent economic news has been slight bear. However I feel that the prices have been over extended to the sell side and we should see some retracement. Manage your money well as both AUDUSD and NZDUSD move the same direction.