CROSSES: AUD/NZD failed to form the double-bottom we looked at yesterday, with the neckline at 1.1725 getting breached. This pair is best left alone now until the picture and major level become clearer. Macro funds continue to book profits in EUR/AUD and this has been easing the downward pressure on the AUD. The AUD/JPY cross has also continued to edge higher but will face stiff resistance at 92.50 (see chart).
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