CROSSES: The AUD made some strong gains on the crosses particularly against the JPY and the NZD. We should remember that AUD/JPY has a potential basing pattern in place and despite the sideways movement of recent weeks, the trend is most likely still bullish. AUD/NZD broke above short-term resistance levels near 1.1415/30 but the bulls will be disappointed that it didn’t close above. The target here is at 1.1550.
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