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Both AUD- and NZD-crosses on the Verge of Big Moves

Both AUD- and NZD-crosses on the Verge of Big Moves

Christopher Vecchio, CFA,

Talking Points:

- AUDUSD rebounds sharply on jobs data, NZDUSD falls on RBNZ.

- 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.

Read more: NZD/USD, USD/CAD Face Key Levels as BoC, RBNZ Meet

--- Written by Christopher Vecchio, Currency Strategist

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Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.