Commodity currencies such as the AUD/USD and NZD/USD enjoy bullish flows as the uptrend continues.
The AUD/USD is very bullish. It is making progress towards 3 month highs and I expect the trend to continue. Buying the dips is the best possible scenario. There are 2 POC zones. 0.7295-0.7305 is the first POC zone and 88.6 and D L4 – 0.7263-0.7275 is the 2nd. The target is 0.7327. If the pair doesn’t retrace that low we should see a retest of 0.7340 and continuation up.
The Analysis has been done with the Black Widow system.