Dollar Versus Kiwi and Aussie October 14th

FX Strategy Video > Currency Pairs Analysis

NZD/USD fell during the late Wednesday and most of the Thursday session. However, during the US session, it seems to have found a bid, and formed a hammer-shaped bar at the top of the recent run up. This could be bullish, or it could be bearish. If we can rise above the top of the candle, and close above the 0.8000 level, this would be massively bullish. If we break the bottom of the candle, it would qualify it as a "hanging man", and would be massively bearish. We feel the next 24-48 trading hours could be big for the Kiwi.

AUD/USD looks like it is starting to struggle with the 1.02 - 1.03 resistance area. The day was bullish on Thursday, but hardly impressive. We see nothing but bits of resistance almost all the way to 1.05, so are looking for signs of weakness to sell now.

Published on 13th of October 2011
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