AUD/USD started a recovery wave above the 0.7000 resistance. NZD/USD is also showing a lot of positive signs above the 0.6300 level.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase from the 0.6850 support zone against the US Dollar.
· There was a break above a key bearish trend line with resistance near 0.6970 on the hourly chart of AUD/USD.
· NZD/USD also started a decent increase after it cleared the 0.6250 resistance zone.
· There was a move above a major bearish trend line with resistance near 0.6335 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis
The Aussie Dollar formed a base above the 0.6850 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.6950 resistance zone.
There was a break above a key bearish trend line with resistance near 0.6970 on the hourly chart of AUD/USD. The bulls pushed the pair above the 50% Fib retracement level of the downward move from the 0.7226 swing high to 0.6850 low....More info: blog FXOpen
