Since the 0.8845 low we have seen a more powerful rally than expected and by breaking above resistance at 0.9345 we have already corrected 38.2% of the decline from 1.0583 Down to 0.8845. However, looking at the structure of the rally I would expect a move higher towards 0.9714 as long as support at 0.9219 protects the downside. If support at 0.9219 is broken towards the downside it indicates that wave B is already over and wave C lower towards at least 0.8065 is developing.
But as long as support at 0.9219 stays intact we should keep our focus towards the upside for a rally higher towards 0.9714 before lower.
Good morning HWS,
ReplyDeletecould you give your veiw on NZDUSD & AUDNZD please.
Thank you very much
Best Regards