venckusarunas

AUDNZD at possible reverse zone

FX:AUDNZD   Australian Dollar/New Zealand Dollar
Market have got down into strong support zone, which has worked as support many times before. As this zone have been broken we can consider it loosing its strenght. But it seems like if that zone will hold and price will go up again, we will have inverted head & shoulders pattern. Fibonacci 61.8% retracement level is in the middle of support zone working as strong magnet and possible reversal level. I will wait and look for confirmation of this setup. Or for the break down of the zone again.

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