AUD/USD, NZD/USD Daily Forecast – 18 Dec, 2019

breaks support at 6885/75 with longs stopped below 6860.

in a 2.5 month bull trend so we are buying in to weakness at this stage.

remains in a boring sideways trend, likely to trade in a 200 pip range for the foreseeable future. First support at 6830/20 but below here targets 3 month trend line support at 6785/80.

First resistance at 6875/80 but above here targets 6895/6900. Above 6905 allows a retest of 6933/38.

longs at support at 6580/70 target 6600/05 & 6620/25 before the high at 6636.

Further gains this week look for minor resistance at 6650/55. A high for the day likely if tested today, but shorts are still risky in this short term bull trend. We could could trade sideways at this stage to ease overbought conditions in to the the end of the week.

First support at 6580/70 but below 6560 meets a buying opportunity at 6545/35, with stops below 6520. A break lower targets 6490/80.

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

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