Tuesday, September 24, 2013

AUDUSD update, NZDUSD, AUDNZD 130924

H4 AUDUSD tripped stops above 0.9450 with highs at 0.9456. Knocked out by 6 pips. Support is still 0.9375, which is also the 23.8 retracement of the upmove. (unclosed candle)

Daily NZDUSD weakened and broken support to form an almost tower. Looking more and more like a POS now. Upside is capped at 78.6 retracement of recent down move at 0.8435. Currently supported by 23.8 retracement of up move.

AUDNZD survived the near risk of break down with support at 1.1198. Channel resistance at 1.1370, if broken will look to test recent highs 1.1660 for a possible double bottom formation. Potential for lots of upside if broken.

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