FxGrow Daily Technical Analysis – 23rd Nov, 2015
By FxGrow Research & Analysis Team
AUDNZD - highest since September 2015
AUDNZD continue its upward rally. In November price increased more than 500 pips. There was a return to consolidation in which price moved from June to October (see orange lines).
Today demand has confirmed its strength breaking above resistance at 1.1027 and test of 1.1330 and 1.1440 levels seems to be a matter of time. Break above level 1.1400 give a signal to realization of huge head and shoulders pattern. Range of upward movement which is estimated by distance between head and neck line reaches to level 1.2560. In case of rebound nearest supports are at levels: 1.1027, 1.0950, 1.0880.
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