The AUDUSD and the NZDUSD have similar technical stories to tell.
- Each has seen up-and-down price action over the last 5-6 trading weeks.
- Each has its 100 and 200 bar moving averages on their 4 hour charts near the middle of the trading ranges.
- In trading today, each are moving above the moving average levels, tilting the bias more in favor of the buyers
Having said that, each has work to do to increase the bullish bias and get outside the “red box” that has confined the trading over the last 5-6 weeks.
To find out what levels are in play and what are the risks, watch the above video.
Be aware. Be prepared. Know the risk. Know the bias.
This article was written by Greg Michalowski at www.forexlive.com. Source