Dollar Versus Aussie and Kiwi October 31st

FX Strategy Video > Currency Pairs Analysis

The AUD/USD pair skyrocketed on Thursday, but found the Friday session a little slower. This makes sense as it certainly needs to rest after smashing through the 1.05 level. The pair formed a hammer-shaped candle on Friday, and looks set to pullback. The 1.05 level will be key in determining which direction we go next.

NZD/USD had a similar move, as it usually does. The 0.80 level gave way, and Friday saw a quiet session. The original move was down, but the end of the session saw the pair printing a hammer that looks supportive. However, a pullback is needed, and the 0.8000 level looks like a potentially good support zone to buy. If we break below it – look out below!

Published on 28th of October 2011
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