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
--- Written by Paul Robinson, DailyFX Research
To contact Paul, you can email him at instructor@dailyfx.com
