Chart Art: Uptrend Setups on AUD/USD and AUD/NZD

AUD/USD: 4-hour



AUD/USD is having trouble breaking below the .7600 psychological handle, which isn’t surprising since the level lines up with a mid-channel support on the chart. What’s more, it’s also sitting right where the 100 and 200 SMAs are on the 4-hour time frame!

Buying at current levels would yield a 130-pip trade if you aim for the March highs around .7750. If you’re one of them Aussie bears though, then you could also wait for a break below the consolidation and wait for a couple of bearish candlesticks before jumping in. Hey, a move to the .7500 MaPs would still yield at least 100 pips, right?

AUD/NZD: 4-hour



If trading the Greenback isn’t your thing, then you’ll want to see this classic uptrend setup on AUD/NZD.

The pair is lollygagging at the 1.0800 major psychological level, which is right smack at a rising channel AND the 200 SMA support areas on the 4-hour time frame. Not only that, but a bullish divergence has also popped up to support long positions.

Will we see a bounce for the Aussie? Buying at market would get you a sweet reward-to-risk ratio especially if you aim for the previous highs around 1.1000. Just make sure to use wide stops, aight? Crosses like these tend to see volatility like nobody’s business!