Aud seems to be having a really good rally in the past few weeks almost showing signs of being overbought on long time frame charts Nzd on the other hand cannot find a space to breathe and kept falling , So for Aud/Nzd we can see that the pair has gained alot in the last 4 weeks jumping 400 pips which is quite a move for this pair.
Currently we are at a critical point where this pair can move to form a lower higher with in an expanding triangle and boom down from there to form a newer low at 1.01. So next weeks if we see a a good correction for the currently week up move we can expect the pair to break the resistance and touch a lower high or it can get a good rejection candle next week chances of which are very low considering the good chinese data for aussie dollar .
Lets see what happens next week .
Good luck
Currently we are at a critical point where this pair can move to form a lower higher with in an expanding triangle and boom down from there to form a newer low at 1.01. So next weeks if we see a a good correction for the currently week up move we can expect the pair to break the resistance and touch a lower high or it can get a good rejection candle next week chances of which are very low considering the good chinese data for aussie dollar .
Lets see what happens next week .
Good luck
