Vibes
The NZDUSD and the AUDUSD are both up over 1% on the day. What next?
xCruzo Brief
The NZDUSD and AUDUSD are both up more than 1% on the day, with the New Zealand dollar leading. NZDUSD is gaining 1.45% and has pushed above the 50% and 61.8% retracement levels, breaking last week’s high at 0.5871. Price is now testing a swing zone between 0.5881 and 0.5886 that has capped rallies since May. A sustained move above could strengthen the bullish outlook and open additional upside. Downside risk is tied to closes below 0.58705, then 0.58526 at the broken 61.8% level. AUDUSD is up 1.05%, clearing 0.7022.
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