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.