AUD/USD started a fresh increase above the 0.7320 resistance zone. NZD/USD also climbed higher and it might continue to rise towards the 0.7120 level.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a steady increase above the 0.7320 hurdle against the US Dollar.
· There was a break above a key declining channel with resistance near 0.7350 on the hourly chart of AUD/USD.
· NZD/USD also gained pace after it broke the 0.6970 resistance.
· There is a key rising channel forming with support near 0.7040 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis
The Aussie Dollar found formed a base above the 0.7280 level and started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7300 and 0.7320 resistance levels to move into a positive zone.
The pair even broke the 0.7350 and 0.7380 resistance levels. There was a break above a key declining channel with resistance near 0.7350 on the hourly chart of AUD/USD. The pair even cleared the 0.7400 level and the 50 hourly simple moving average..... More info: blog FXOpen
