On October 30 AUDNZD reached low at 1.0496, since then the price moves in an upward trend. Upward movement has been corrected in previous days of 38,2% which is a basic Fibonacci level. Currently price is trying to return to uptrend. AUDNZD reached to a strong resistance. So rapid break above should be unsuccessful. By four months before that resistance at 1.0900 has stopped falls. This resistance is reinforced by fibo 50% of downward movement from the period of September – October 2015.

If there will be a rebound falls should reach the level of 1.0730. If break above 1.0900 proves successful the next resistance level is 1.0980.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency.


Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)