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AUD/USD Technical Analysis: Trying to Lay Path Below 0.71

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Talking Points:
AUD/USD Technical Strategy: Flat
Australian Dollar resumes down trend vs. USD after brief consolidation
Daily close confirmation of support break to lay a path below 0.71 figure
The Australian Dollar is under pressure once again after brief consolidative period, with prices attempting to
pave the way for a move below the 0.71 figure. A top was established as expected with the formation of a
bearish Evening Star candlestick pattern above the 0.78 mark.
Confirmation of a breach of support at 0.7212, the 61.8% Fibonacci retracement, on a daily closing basis
paves the way for a challenge of the 76.4% level at 0.7065. Alternatively, a reversal above the 50% Fib at
0.7331 sees the next upside barrier at 0.450, the 38.2% retracement.
An actionable short setup is absent for the time being, pending validation of a support break. If a close
below 0.7212 is secured, risk/reward considerations imply a short entry no lower than 0.7163. In the
meantime, patience seems to be warranted.
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provided as general market commentary, and does not constitute investment advice. DailyFX assumes no responsibility for errors, inaccuracies or omissions in these
materials, and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance
on such information. DailyFX does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials.
Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.
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NZD/USD Technical Analysis: Short Trade Confirmation Sought

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Talking Points:
NZD/USD Technical Strategy: Flat
Kiwi Dollar attempting to break range bottom support once more
Reversal validation, acceptable risk/reward sought to enter short
The New Zealand Dollar is attempting to break below range support above the 0.67 figure against its US
counterpart after re-testing a recently broken trend line. Prices have struggled to build downside momentum
after seemingly overturning the upswing from Januarys swing lows, but sellers seem intent on trying anew.
A daily close below the May 10 low at 0.6716 paves the way for a test of a horizontal pivot at 0.6576.
Alternatively, a move back above trend line support-turned- resistance at 0.6779 opens the door for a
challenge of the April 27 close at 0.6823.
Entering short would be consistent with expected 2016 fundamental themes but the absence of a validated
support break makes taking a trade at current levels appear premature. A better-formed setup with adequate
confirmation and acceptable risk/reward parameters will be sought before establishing exposure.
Losing money trading NZD/USD? This might be why.

Trading on margin carries a high level of risk, and may not be suitable for all investors. Any opinions, news, research, analyses, prices, or other information contained is
provided as general market commentary, and does not constitute investment advice. DailyFX assumes no responsibility for errors, inaccuracies or omissions in these
materials, and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance
on such information. DailyFX does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials.
Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.
FXCM, L.L.C.

NEW YORK
1.212.897.7660
LONDON 44.(0)20.7464.8408

TOKYO
HONG KONG

81.3.3556.5541
852.2119.0116