AUDUSD & NZDUSD Meet Major Supports

12 Jun - AUDUSD Daily

(Click on image for larger view)

Hi All,

This is just a quick update on the AUDUSD and NZDUSD. As shown above, the Aussie is currently testing a major support level around 0.94. The last time price tested this support was in Oct 2011. Let’s see if it still holds.

12 Jun - NZDUSD Daily

(Click on image for larger view)

As mentioned on the 2nd June (see article), Kiwi is facing a slightly different but not too dissimilar obstacle. The upward trend line above was formed with two test (blue circles) – one in March 2011 and another in May 2012. There is also confluence with a soft support level around 0.780.

I’m eager to see how price will unveil itself. As always, please remember to trade your plan.

 

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