The AUD/NZD pair rose on Wednesday, as traders are trying to sell off all risk assets as the fears of debt issues continue out of DC. This selling doesn't have much to do with either of the Antipodean economies, but it does move the pairs. We feel that a bounce to 1.28 could be coming, but that could be a place we can sell this pair as it should be resistance.
The AUD/JPY pair rose as well, but appears that it is approaching the top of the recent downtrend channel, and as such - we are getting ready to sell, but at about 100-150 pips above current levels.
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