FxGrow Daily Technical Analysis – 13th Nov, 2015
By FxGrow Research & Analysis Team
AUDNZD - break above resistance at 1.0900
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.
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