Aussie and New Zealand Dollars May 18

FX Strategy Video > Currency Pairs Analysis

Looking at the AUD/USD, it appears that the 1.05 area is holding as strong support. In fact, it is also the 38.2% Fibonacci level from the last move higher. The action on Tuesday was very bullish, and a break of Monday's highs could show massive strength in this pair. The NZD/USD is finding support at the 0.78 area, and looks like it wants to go sideways with an upward bias, bouncing around the 0.78 to 0.80 levels. A break lower looks to find the 0.75 area. But as this market is in an uptrend, looking to buy is probably safer.

Published on 17th of May 2011
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