Here’s Our Forex Outlook For Today

Wednesday FX Outlook

USD/NOK Update

NOK, like Dollar Index, is looking a bit heavy and suggests sideways to lower
price action. However, we are reluctant to short against the overall trend as
fib levels have not been tested suggesting that this minor pull-back is likely
just that, not the beginning of a leg lower. We will be watching for signs that
prices are on the verge of deteriorating and will advise accordingly

NZD/USD Outlook

Our target from yesterday, .7125, was not hit, but we see some potential for a
move higher today, especially on a break of .7110. Our target price over the
next 6-12 hours is .7145

AUD/USD Update

Our target of .7680 from yesterday was hit early on and then AUD drifted off the
rest of the session. Overnight however, the technical picture has improved and
we now see .7704 as our new price target. We will advise on a long entry price
shortly if the trade continues to play out.