Dollar Versus Aussie and Kiwi October 27th

FX Strategy Video > Currency Pairs Analysis

AUD/USD fell during the Wednesday session, but bounced in the US afternoon session as rumors came out of Europe about the possible EU "fix". At the US close, they are just that - rumors, and one has to think buying this pair would be premature at this point. The 1.05 level above simply must be closed above to go long this pair. A break below the Wednesday lows is massively bearish.

NZD/USD also had a bounce late in the day, but is still in consolidation at this point. The breaking of the range is a must in order to pick a direction, and until the Europeans decide (or not) to do something - this pair will be tough to trade for anything more than a simple scalp.

Published on 26th of October 2011
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