AUDNZD Testing Trend Support, Again
- AUDNZD testing trend-line support, again
- A break below 10650 should usher in more selling…
- If a break occurs, looking for a move back towards 10400
Last week, I highlighted the rising trend-line support in AUDNZD, citing that it should be trusted until broken, however; that trust is beginning to wear thin. I will be looking for a break on the 4-hr chart below 10650 before taking entry. The RBA is set to announce a rate decision Tuesday at 3:30 GMT; this could certainly be the catalyst which determines the fate of the multi-week trend-line.
AUDNZD: 4-hr: Dec '14 - Present
--- Written by Paul Robinson, DailyFX Research
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.