The desire for higher yielding assets drove the Australian and New Zealand Dollars higher on Thursday. Both of these markets are in a position to challenge their highs for the year. It is going to take a follow-through rally on Friday to trigger a breakout. Lately these two markets have not been able to sustain their rallies, which are giving these markets a distributive pattern. If these two pairs cannot follow-through tomorrow and close sharply lower then consider the attempted rally a failure and look for the start of a break. Fundamentally, without help from higher equity and commodity markets then look for the start of a substantial decline.