Kiwi and Aussie Dollars May 23

FX Strategy Video > Currency Pairs Analysis

The NZD/USD has reached and failed at a resistance area that currently signals the top of the currently consolidation. It looks as if the 0.78 and 0.80 areas have this pair trapped for the time being. The AUD/USD looks very bullish in general, but Friday's candle was a doji - showing that it might get choppy for a little bit. The pair looks like it will eventually rise in price due to the trend, the support at 1.05 and 1.02 areas as well. Also, a potential bull flag is being formed that could send us to 1.20!

Published on 21st of May 2011
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