In today’s analysis we will focus on the currencies from antipodes. We will give a break to the index traders as summer holidays combined with Independence Day in the United States can result in very low volatility and overall a boring session on the global indices. Recent optimism and relatively good situation in China are definitely helping the AUD and NZD. Thanks to that, we do have very interesting setups on the pairs with those currencies.
Let’s start with the Kiwi, NZDUSD. The pair escaped from the triangle pattern with the bullish breakout off its upper line. That gave us a mid-term buy signal. Now, the pair has to confirm this sentiment by breaking the horizontal resistance on the 0.653. The sentiment here is positive.
Taking a look at the Aussie, AUDUSD, the price is still inside of the symmetric triangle pattern. Friday brings us another bullish attempt and it looks like the resistance will be finally broken. Pressure from the buyers looks serious and the chances that they will succeed are quite high.
On the AUDJPY, the breakout of the resistance already happened, so the buy signal here is already up and running. As long as the price stays above the upper line of this formation, the sentiment is positive.
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This article was originally posted on FX Empire