In the AUDJPY, we can see that after a sharp upwards move, it has had difficulty breaking above the 96.7 resistance level. This lead to the formation of the highlighted ascending triangle. With major consolidation in the last couple weeks, and even maybe for some time to follow, we can possibly expect to see the pair break out and continue its move up.
The AUDNZD has been on our (us traders) favorite type of movement, a Power Trend. After a pullback, the pair has tested the .382 Fibonacci retracement and the 1.077 support levels. After having tested both support levels, it is now touching the upwards trend line, signaling a potential trade entry. We can expect to see the pair to continue on it's bullish move...
