AUDNZD 26.08.2015
The AUDNZD pair had quite dynamic drops on Friday. The price after breaking down from the rising wedge returned to it from the bottom testing the defeated support of the wedge and then headed south continuing drops to the level of 1.0550. Friday’s daily candle turned out to be bearish, size of 65p, on the MACD formed a maximum, and the next bar of the histogram is already falling.
On the H4 chart we can draw a line parallel to the resistance of the wedge from which the price broke on Friday, which can become a support for the growth channel. On the MACD there is a current downward divergence which suggests that if the support of the channel is defeated the downward trend will continue to the nearest demand zone starting at the level of 1.0480.
