AUD,NZD/FXWW News/Trade Ideas

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.

  1. OK Thanks. I agree it is messy but it seems to fit right to my mind and the fundamentals too. (AUD sold off more than EUR and now I expect a catch up).

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