AUD/USD: Still bearish but crosses looking friendlier
- AUD/NZD: Possible double-bottom with neckline at 1.1725 (see chart).
- EUR/AUD: Another weekly close below important 1.4400 resistance (see chart).
- AUD/USD: Bear trend still in total control and weak weekly close does nothing to dampen the bears enthusiasm.
The market wants to sell this pair still but I am sticking strongly to the view that this is a short-term fad which will soon run out of momentum. But I’m not willing to make any large bets against the trend just yet.