A magnetoresistive memory element has a read module with a first pinned layer that has a magnetoresistance that is readable by a read current received from an external circuit. The element has a write module that receives a write current from the external circuit. A coupling module adjacent both the write module and the read module has a free layer that functions as a shared storage layer for both the read module and the write module. The shared storage layer receives spin torque from both the read module and the write module and has a magnetization that is rotatable by the write current.