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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

AUDUSD, Australian Dollar, NZDUSD New Zealand Dollar

AUDUSD and NZDUSD commentary, Ready for a correction ?

This past 7 days, I have seen some serious termination signals on the AUDUSD, ( Australian Vs  US Dollar ), NZDUSD (New Zealand Vs  US Dollar), its not a forgone conclusion that price will now plumet and make  a correction to the downside, but in all likleyhood these currency pairs have formed a short term high and are due for at least a consolidation.

This past 7 days, I have seen some serious termination signals on the AUDUSD, ( Australian Vs  US Dollar ), NZDUSD (New Zealand Vs  US Dollar), its not a forgone conclusion that price will now plumet and make  a correction to the downside, but in all likleyhood these currency pairs have formed a short term high and are due for at least a consolidation.

There is upper tails on the weekly candlestick chart , (see chart below) which signals upper price rejection, a typically bearish technical signal.

I see these pair as stil uptrending in the broader term, but in the short term, we may start to see prices take a breather and correct back into the previous key  support levels.

The AUDUSD could rotate back into 83 US cents, and NZDUSD back into 69 US cents respectively.

See Chart Examples Below 

kiwiandaussiedollar

The above Commentary is not financial advice and any views expressed are personal views only, you trade at your own risk..

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.

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