Similiar to the NZDUSD, the AUDUSD has broken above the bearish trendline.
However, price is currently at the 23.60% fib retracement level.
Currently in consolidation, look for the AUDUSD to push to the upside, buying beyond 0.6555 to the next resistance level of 0.6618 (38.2% fib retracement level)
Watch out for the Aussie-related news, RBA monetary policy meeting minutes (Tuesday) and the Wage Price Index (Wednesday) which could bring some weakness to the AUDUSD.
However, any upward move on the NZDUSD and the AUDUSD would depend on the potential weakness of the DXY.
However, price is currently at the 23.60% fib retracement level.
Currently in consolidation, look for the AUDUSD to push to the upside, buying beyond 0.6555 to the next resistance level of 0.6618 (38.2% fib retracement level)
Watch out for the Aussie-related news, RBA monetary policy meeting minutes (Tuesday) and the Wage Price Index (Wednesday) which could bring some weakness to the AUDUSD.
However, any upward move on the NZDUSD and the AUDUSD would depend on the potential weakness of the DXY.
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