Forex Video Briefing (10/3) – AUD/USD and NZD/USD after the NFP


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Forex Video Briefing (10/3) – AUD/USD and NZD/USD after the NFP

AUD/USD rallied from a low of 0.8663 earlier in the week to 0.8826 before retreating. This was a brief consolidation, but if price held above 0.8750, the market would have seen a price bottom confirmed with bullish correction scenario in play. However the strong US jobs data pulled the AUD/USD down. Note that price barely breached the 50-period SMA, and the 4H RSI held above 60, showing maintenance of the bearish bias and momentum. At this point, if the AUD/USD is indeed continuing the downtrend, the support/resistance pivot around 0.8750 should see sellers. Also, note that AUD/USD is breaking into fresh lows on the year, and is now exposing the 2010-low at 0.8066 as a target perhaps not in the short-term, but possibly in 2015.

The NZD/USD also had a brief consolidation this week, rallying from 0.7707 to 0.7926. Note that price held below the 50-period SMA, and the RSI held below 60. Also price is breaking below this week’s rising speedline, signaling bearish continuation. NZD/USD is poised to test the 0.7707 low. Also if there is a bounce, a bearish market should find sellers in the 0.7850 support/resistance pivot area. A break below 0.77 first tests the 2013-lows just above 0.7680. If that is broken, we have some common lows from late 2011, and mid-2012 in the 0.7455-0.7460 area. This is a bearish target not for the short-term, but perhaps for 2015.

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Jonathan Millet is currently the proud CEO of, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers. He also holds the position of Binary Options Consultant at Before was around, Jonathan was a successful Forex dealer and chief market analyst at Forexyard. He has also worked as a Forex trader. His other specialties include advising financial companies of how to stay head of the competition.