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AUD & NZD turn medium-term bullish

BofA Merrill Lynch notes ....

  • We are constructive on the AUD and NZD. Both are pointing to a medium term turn in trend. 

  • In AUD/USD, a close above the 50d (now 0.7835) confirms a turn targeting 0.8296/0.8264, while in NZD/USD, a close above the 100d (now 0.7633 could confirm a 7wk Double Bottom, targeting 0.7978/0.8058. 

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