Welcome to another Friyay, yo!
AUD/USD is a hair’s breadth away from the .7200 major psychological handle that has served as resistance at least twice since late September.Stochastic is hanging out near the overbought territory, so it’s possible that some bears are already paying attention.
Not a fan of shorting the dollar against the Aussie? That’s fine, you can also wait for a clear break above .7200 and then aim for retests of the .7260 or .7325 previous areas of interest instead.
GBP/NZD: 4-hourtrend line support so y’all might want to prepare your orders if you’re betting on GBP/NZD busting above the pattern and retesting levels like 1.9850 or even 2.0000.
But wait! Remember that not all ascending triangles break to the upside. If the bears get enough support, then we could still see the pound drop below the trend line support and hang around the 100 SMA and the 1.9345 support and resistance level.