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AUDNZD Testing Trend Support, Again

AUDNZD Testing Trend Support, Again

Paul Robinson, Strategist

Talking Points:

  • 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

AUDNZD

--- Written by Paul Robinson, DailyFX Research

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

https://www.youtube.com/watch?v=dKUy-tfrIHY

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

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