10 Sep 2015

AUD/NZD GETTING READY FOR A BREAK?

AUD/NZD DAILY

After RBNZ yet another rate cut last night the rate bounced from the symmetrical triangle support and experienced quite a rally to test the triangle resistance.

A break above 1.1270 should take the rate higher to test the neckline of the massive inverse head and shoulders formation around 1.1450-1.1500.

My bias is now higher as long as we are trading above 1.0870.





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