AUDUSD
AUDUSD: Posted a weekly close above the resistance level at 0.6852 and is likely to rally towards the top of the range at 0.7270. A rally through there opens the way for the 200 dma at 0.7547 and then the converged 55 and 200 week moving averages at 0.79+. The outlook remains bullish.
AUDJPY – Towards the 200 dma
AUDJPY: Approaching the resistance level at 68.25 and then 70.51. Note that the 55 day moving average has provided support on two occasions since it was breached on 24th Feb (as highlighted above). Overall the trend is up and the pair should continue higher towards the 200 dma at 75.83. AUD should continue to be an outperforming currency with commodities, especially metals, performing well…
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