14 Sep 2015

BULLISH PENNANT BREAK ON AUD/NZD
















AUD/NZD H4

The rate just broke the bullish pennant and the larger symmetrical triangle resistance.

My bias are now higher with the potential short term targets at 61.8% and 100% breakout targets at 1.1390 and 1.1515.

A break back in the triangle below 1.1180 would invalidate my immediate bullish outlook, however, only a daily close below 1.0925 would turn my overall bias to bearish for the pair.




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