AUD: Also looking to the crosses for leads today
- EUR/AUD (see chart) is trying to form a cap below important weekly resistance near 1.4400. It tried the same recently and failed!
- AUD/NZD (see chart) should run into some very solid resistance near 1.2000.
- AUD/JPY (see chart) is trying to form a launching pad at important technical support near 89.25/50.
- AUD/USD is still in a downtrend and needs to break back above previous lows at .9325 in order to generate further bullish momentum. Support levels are at .9200 and .9150. I’m sticking with my bottom-picking long trade with a stop now below .9120 but I will need to reduce quickly if .9325 resistance looks like holding.