The AUD is leading the way today, along with the NZD
But the move is mainly AUD/NZD driven. Flows that are keeping the pair bid is helping to boost the AUD today.
The December trendline support is still holding - but upside moves are well capped by the 100-day MA over the last two weeks. The wedge between the December trendline support and the 100-day MA is narrowing - and we'll see a break one way or another from here.
The dollar's weakness today is helping all other major currencies post a gain - but the flows in the commodity currencies today are helped along by some AUD/NZD buying.
If you're going to be looking for a break in AUD and NZD pairs, watch out for the break in AUD/NZD. That will be the tell.
