Australian Dollar

Australian Dollar / US Dollar

I wrote last week that “we have yet to see the degree of weakness from the top that is evident in the EURUSD and GBPUSD but RSI divergence as well as the patterns in the EURUSD and GBPUSD do warn of a reversal. The short term pattern is not clear, but the NZDUSD sheds some light on what might be going on.” Nearly 300 pips off of the top, weakness is confirming my suspicions that an important top is in place. Rallies should be sold. .8270-.8330 is potential resistance. Testing channel support now, a daily close below would confirm a top.

New Zealand Dollar / US Dollar

I wrote last week that “the rally from .6193 (wave 5) may be unfolding as a diagonal. If this is the case, then price will poke above .6823 prior to reversing.” Failing just shy of the mentioned line, the NZDUSD has indeed reversed sharply.
Rallies should be sold. .6710 is potential resistance.

US Dollar / Japanese Yen

The USDJPY has been violent lately - moving sharply in both directions. The NFP spike has been entirely retraced and the decline from 97.81 to 95.11 is impulsive as is the decline from 96.79. 5 wave moves occur in the direction of the larger trend, so rallies should be sold. 95.10 and 95.50 potential resistance areas and the trend is bearish below 96.80.