AUD and NZD are weakening

In the last two days both AUD and NZD have weakened against the greenback after the Chine macro data. Imports have been falling by 0.7%, something that could effect the exports of these two countries. In Australia, the business conditions slumped to four-year low. And, the consumer and business sentiment went in the wrong direction, and that is a worrying sign as well.

Technically, on the H4 chart we can see the Aussie on a double bottom. At 0.9170 there was a break out this morning, so the next resistance line is at 0.9250, TP 2 is at 0.9315. We have to be protected at 0.9100.


AUD USD 4 hour technical analysis chart July 10 2013

Kiwi generally is a bit slower than AUDUSD, but it has also made a double bottom and had a break out at 0,7850, TP is at 0.8040. Stop loss at 0,7790.


NZD USD 4 hour chart technical analysis July 10 2013 for forex trading



Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.