Australian and New Zealand Dollars Stay Bearish

The Australian and New Zealand Dollars have attempted to rebound through late November and early December, but those recuperation efforts were at exceptional lacklustre, leaving the danger for renewed bearish pressures into December.

For preceding AUDUSD smash below the .7438 stage finished a multiple high and multi-month pinnacle pointing to extra vast losses into yr-stop and in all likelihood four January 2017.

For NZDUSD, the give up of .7030 strengthened multi-month Head and Shoulders sample. This leaves the FX forecast for NZDUSD lower into early December and probable via to the give up of 2016 (and past).

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AUDUSD
A rebound Friday up through .7448 resistance, to ease the recent endure bias and shift to a neural consolidation tone into Monday.

However, the mid-November damage of .7438 finished a multiple peak topping sample, which leaves an intermediate-term bearish subject.

For Monday: We see a impartial tone among .7498/7502 and .7367/60 (with a fantastic bias)

Break above .7498/7502 goals for .7542, which we would look to attempt to cap.
Break under .7367/60 aims for .7334, maybe .7306, which we would appearance to try and keep.
Short/ Intermediate-term Outlook – Downside Risks:

We see a poor tone with the bearish danger to .7284 and .7141.
Below here goals .7000, .6971 and .6825.
What Changes This? Above .7630 signals a neutral tone, handiest transferring tremendous above .7778.

Daily AUDUSD Chart

Daily AUDUSD chart

NZDUSD
An sudden rebound attempt Friday to conquer resistance at.7105 and .7139, to reject the on the spot bad tone and shift to a impartial subject into Monday.

But the mid-November breakdown via the multi-month “neckline” of the Head and Shoulders top from July, signalled an intermediate-term bearish shift, showed below .7030.

For Monday: We see a impartial tone between .7170 and .7042 (with a fantastic bias)

Break above .7170 targets for .7198, perhaps .7228, which we might look to try to cap.
Break beneath .7042 goals for .7029 and .7010, which we’d appearance to try to hold.
Short/ Intermediate-term Outlook – Downside Risks:

We see a poor tone with the bearish risk to .6948.
Below here targets 6800 and .6676/sixty four.
What Changes This? Above .7403 signals a impartial tone, most effective moving fantastic above .7485.

Daily NZDUSD Chart