Minors Daily Forecast Dec 06 2017

AUDUSD: Recovers With Caution. USDCAD Bearish But Hesitates Ahead Of Key Support 1.2625. NZDUSD Continues To Consolidate!

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AUDUSD: Recovers With Caution: As long as 0.7565 support holds on a daily closing basis, the AUDUSD remains on a recovery mode and further upside could be seen to the 0.7665 levels ahead of the 0.7700/0.7732 levels, below 0.7595 sees a fall risk to the 0.7521/0.7455 levels, further down, support comes at the 0.7370 …(Minor support comes at the 0.7595 levels)…

USDCAD Bearish But Hesitates Ahead Of Key Support 1.2625: As long as 1.2705 resistance holds on a daily closing basis, the USDCAD remains on the downside to the 1.2625 levels, a halt is likely and it may turn higher from here but a cut will aim the 1.2533/1.2475 levels. Above 1.2725 sees a recovery risk to the 1.2825/1.2938 levels before another fall.

NZDUSD Continues To Consolidate: As long as 0.6945/0.6980 resistance holds on a daily closing basis, the NZDUSD remains in a pullback mode and further down could be seen to the 0.6758 levels, further down support comes at the 0.6675/0.6557 levels. Above 0.6980 will turn outlook bullish to the 0.7054/0.7177 levels.

 

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