The central bank bonanza continues today and we are starting to see some major technical cracks in the dollar and in stocks.
EUR/USD is breaking 1.1000 for the first time since April last year as the upside break continues to run while AUD/USD is also threatening a break above its August highs of 0.7125-36 with NZD/USD above 0.6500 currently. Elsewhere, USD/JPY is keeping the downtrend going while USD/CAD is also working its way towards the November lows of 1.3225-35.
GBP/AUD is still one pair I'm watching closely after sellers held a defense of 1.7500, which came alongside that of AUD/USD at 0.7000 earlier this week.
The aussie's bullish mood is bolstered by the fact that we could be seeing a major technical breakout take place for stocks as outlined here.
The BOE and ECB will provide the next tests for markets, so let's see what they have lined up.
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