Inside the Currency Market : AUD/USD & AUD/NZD

AUD/USD. Bottom 0.7312. That’s 22 pips lower since last night’s 0.7334 bottom. Ranges below 0.7324 and 0.7275. Watch the bottom point at 0.7312 as 0.7324 must break below to achieve that target. Ranges above 0.7373 and 0.7423. See ranges are now tightening up since the RBA decision as mentioned. A cluster exists at 0.7348, 0.7349 and 0.7350.

Strategy. A break of 0.7450 targets overbought sell point at 0.7370 and range top at 0.7373. A break below 0.7348 targets range bottom at 0.7324 then 0.7312 on a break lower at 0.7324.

AUD/NZD. Bottom 1.1233. Range break below 1.1251 then 1.1177. Above 1.1402. Overbought sell point 1.1323, target 1.1290. Break of 1.1290 targets range bottom at 1.1251 then 1.1233 on a break. A cluster of points exists at 1.1289, 1.1290, 1.1291. Resolution of these points decides AUD/NZD direction. From 1.1323, then 1.1301, 1.1291, 1.1290, 1.1289, Then range target 1.1251 and bottom at 1.1233.

AUD Employment is due.

Brian Twomey Inside the Currency Market,

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