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AUDUSD


• The AUDUSD still trades in a very resilient fashion hitting new highs in the move yesterday and closing above.7714 resistance. The top of the existing channel stands at .7890 and rising.

• Only a close back below the .7714 level would question the continuation of this move.

AUDJPY


• The downside danger has not yet abated here as the bearish and bullish technical indicators battle each other

• Bearish:
o Posted a bearish key at the high of the move
o Followed that with a bearish weekly reversal
o Bounced but stopped at the 76.4% pullback level

• Bullish:
o Posted a bullish key day reversal at the low of the recent move

• Overall the bearish argument in the near-term is more compelling for a move towards 66.50 but a close above the recent high at 76.11would question if not negate this potential.