Both AUD- and NZD-crosses on the Verge of Big Moves
- AUDNZD may be ready to break a multi-month triangle.
- See the September forex seasonality report.
A divergence overnight in Australian and New Zealand data leaves the crosses in flux. AUDNZD's recent consolidation finally warrants attention as a result: after consolidating in a triangle for the better part of the past three months, it seems the pair is on the cusp of a continuation move higher towards N$1.2200. Elsewhere, EURAUD and EURNZD - two pairs that have moved in tandem since the end of April - are both flashing different outcomes to their respective triangles.
See the above video for technical considerations in AUDUSD, NZDUSD, EURAUD, EURNZD, AUDNZD, and the USDOLLAR Index.
--- Written by Christopher Vecchio, Currency Strategist
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