Wednesday, June 10, 2015

AudNzd Preparing For A New Bullish Move?

From the weekly chart below, it's clear how this pair has dipped from year 2010. In a clear 5-wave impulsive move, price bottomed at almost 1.00 making Aussie at par with Nzd. 



1.00 was a very strong psychology level and price , as expected, advanced in what look like a five wave impulsive bullish move of a lower degree.

The lower degree bullish move is expected to reach 1.127 which a strong resistance.


The pattern forming from the intra day chart below is a zigzag correction making the fourth wave of the bullish advance discussed above. 



An intraday break above 1.0817 should trigger the bullish move and the near target should be 1.127 if 1.09 resistance is broken upside

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...