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Monday, December 16, 2013

AUD/NZD - Important bottom in place?

AUD/NZD:

Has decline to below the ideal target near 1.0856 (the low for now has been 1.0788), but we are very close to an important bottom calling for a rally higher towards at least 1.1581.

Short term a break above 1.0886 will be the first indication, that a bottom is in place, while a break above 1.1048 confirms the bottom and the rally towards at least 1.1581 and likely even higher.

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