AUD/USD, NZD/JPY Outlook & More – Charts for Next Week

The outlook reflects our short-term vision for the medium-term movement. Otherwise, it will remain bearish even in the event of a strong rebound. In the long term picture, it remains bearish for now. As such, the technical outlook has turned bearish.

Prices turned cautiously greater amidstpositive RSI divergence pointed out last weekwhich showed fading momentum momentum. With it translating to 11600 the risk next week for another test of the 11500-line, a level that has been thoroughly tested on three occasions. Prices are found sitting just behind the right shoulder. With the Q1 results coming better than expected and positive orientation, the share price continued southward renewed trade tensions and Huawei’s ban (which appears to be partly raised after the G20 summit).

AUD was vulnerable to rising US yields and a strong USD, but was supported by positive risk sentiment and rising metal prices. Coupled with USD amortization and continuing hunting investors for surrender, AUD can remain relatively well supported in the short term. The AUD is now likely to be driven more by the national economic perspective and the related monetary policy trends and less by global risk factors such as stocks.

The weekly chart is used to give us an idea of ​​the longer-term perspective, which includes the coming months. It shows how the long-term trend of the couple is somewhat laterally in itself. The daily chart provides an overview of medium-term prospects which includes the next week for the month. It indicates that the rally can continue, as the pair is now well above its 20 DMA, and a few pips below the 100 DMA, while the technical indicators led them steeply upward well into the positive ground. It shows a picture similar to the one depicted above only with wider objectives. The Chart menu shows that most targets accumulate below the current level for the shorter perspective, with the average movement offering a sharp slope. Indicates that beyond the short-term rise corrective movement, the pair remains under bear control, as most targets accumulate below the current level.

For weeks, the New Zealand Dollar traded higher as investors increased bets on a US Federal Reserve rate cut at the end of October. Both the Australian dollar and the face of the New Zealand Dollar are many of the same risks as the trade war between China and the United States. The highest week started, but a downward reversal on October 22 lit up a sell-off three days. It took a hit yesterday after the December trend-line slipped shortly. The Australian and New Zealand Dollars closed lower last week, under pressure from a firmer US dollar and rising Treasury yields.

Ahead of them, the New Zealand Dollar may struggle to gain further gains against its Australian cousin. There is also the momentum for their CFP2-DCO, for the metropolitan market and IP on DWDM as the main application. The strong bearish impulse could alleviate, but there are no signs that it would be over.

Traders will probably be focusing on comments about the possibility of another cut in December. They rated at a rate cut of 25 basis points for weeks, so it should be a surprise if they do cut. They also reacted to rising expectations of a November interest rate cut and talk of a future easing by the Reserve Bank of Australia (RBA). They hope that sheds light on the central bank’s plan on interest rates.