AUDNZD - This Week's Technical Opportunity

Published January 19th, 2007 - 07:59 GMT
Al Bawaba
Al Bawaba

 AUDNZD Breaks Through Resisting Trendline
 Short Term Elliott Wave Pattern Favors Upside

Current Price: 1.1338

Support at the 61.8% Fibonacci level along with the break above the resisting trendline drawn off of the August and November highs favors strength.  1.1137 is critical for any bullish outcome.  A break above 1.1387 bolsters the bullish case.