Market Analysis: AUD/USD and NZD/USD Attempt Another Recovery

AUD/USD is eyeing a steady increase above the 0.6555 resistance. NZD/USD is also rising and could extend its increase above the 0.6000 resistance zone.

Sentiment is: Positive

Technical Analysis

AUD/USD is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If AUD/USD continues in its current trajectory, we could see it reach 0.6609 within the next 10 hours.

AUD/USD - getting close to resistance of a Rising Wedge

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