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AlbionTrader
Jan 20, 2017 11:37 AM

AUDNZD consolidating 

Australian Dollar/New Zealand DollarFXCM

Description

The price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) .

This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before).

The horizontal blue line is both a former support/resistance and a short-term 4H Fibonacci level.


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