Volatility continues to rise; but direction is harder to come across in the currency market. The hesistancy comes with the delay in approving the US bailout plan in Washington, as risk appetite hinges on its impact on the credit market. An agreement is likely to come out of the stalemate soon however (perhaps over the weekend); and when it does, the market will be free to once again take aim on long-term direction. In looking for breakouts with follow through, both the AUDUSD and NZDUSD are well positioned. The former stuck below a major 61.8% fib retracement and former support level at 0.85 and support is read around 0.8275. For NZDUSD, resistance is a significant 38.2 retracement around 0.6940 (and 0.69 has been a generally influencial pivot point for the past two months). Support is comparatively modest at 0.6775. A break of the more pliable technical levels (in favor of the US dollar) would likely lead to a more gradual follow through. Alternatively, a move against the major resistance levels would drive more aggressive (though short-lived) moves.