The Australian dollar continues to struggle on the charts and against the NZD. After today’s weak unemployment data it has fallen so far as to almost touch the current bullish trend line and a pullback from the level is certainly on the cards. Markets will be watching to see if thechannel holds and if a pullback is a possibility.
The SGD/JPY triangle is holding fast, but a breakout is on the cards in the future, and markets will be looking to push the SGD higher against the Yen, as it looks to make grounds on any sign of Japanese weakness. Any bullish play should look to catch momentum outside the triangle with a tight stop loss as a fake breakout is easily a possibility on the charts.