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AUD/NZD

AUD/NZD

2009-12-07 14:12:00
Thomas Long, Course Instructor
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This daily chart gives a good example of what a change of trend looks like. The AUD/NZD had been printing a series of lower highs and lower lows, which is indicative of a downtrend before trading up through one of the previous highs at the point noted on the chart. This is technically a trend change from a downtrend to an uptrend, but perhaps too early in the new trend to start looking for buys. After a couple of higher highs and higher lows though, the trend has shown itself to be stable and tradeable.
 

audnzd

At this time I would look for buying opportunities on the AUD/NZD as long as the market remains above the 1.2435 low of November 18th.
 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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