AUD/USD extended increase above the 0.7200 resistance. NZD/USD is also showing a lot of positive signs above the 0.6500 level.
Important Takeaways for AUD/USD and NZD/USD
· The Aussie Dollar started a fresh increase from the 0.7150 support zone against the US Dollar.
· There was a break above a short-term contracting triangle with resistance near 0.7162 on the hourly chart of AUD/USD.
· NZD/USD also started a decent increase after it cleared the 0.6500 resistance zone.
· There was a move above a major bearish trend line with resistance near 0.6520 on the hourly chart of NZD/USD.
AUD/USD Technical Analysis
The Aussie Dollar formed a base above the 0.7150 level and started a fresh increase against the US Dollar. The AUD/USD pair gained pace for a move above the 0.7185 resistance zone.
There was a break above a short-term contracting triangle with resistance near 0.7162 on the hourly chart of AUD/USD. The pair even settled above the 0.7240 level and the 50 hourly simple moving average...More info: blog FXOpen
