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AUDNZD - Eyes On Rising Trend-line

AUDNZD - Eyes On Rising Trend-line

2015-01-29 18:17:00
Paul Robinson, Strategist
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Talking Points:

  • AUDNZD 4-HR trend-line in focus after repeated retest
  • The pair bumped its head on resistance the past two days
  • In the short run, who will win this sibling rivalry?

The rising trend-line on the 4-hr chart of AUDNZD is beginning to pique my interest, especially given the proximity of repeated touches. Trend-lines tend to become increasingly unreliable after successive test. As a rule of thumb, trend-lines are to be trusted until broken. With that said, I will continue to give it the benefit of the doubt, but with a convincing closing 4-hr bar below that sentiment will quickly change.

AUDNZD – 4-HR: Nov ’14 – Present

AUDNZD - Eyes On Rising Trend-line

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at instructor@dailyfx.com

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

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