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Friday, January 3, 2014

AUD/NZD - Is a powerful rally just ahead?

AUD/NZD:

Ideally support at 1.0816 will protect the downside for a powerful break above 1.0884 and more importantly a break above 1.0906, which would call for a continuation higher towards at least 1.1094 and likely even 1.1290.

However, it is vital to this Count, that support at 1.0777 isn't broken at any point. A break below 1.0777 will delay the potential upside pressure for a move closer to 1.0719 before higher.

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