Monday, October 7, 2013

AUDNZD 131007



AUDNZD on the daily, showing some signs of bullishness, still respecting a upward trendline. 

On the H4, we see that it is trapped between the 200KAMA and the 9 KAMA in a very tight range.
Breakout will be very strong.
Want to get long either above 1.14 or at 1.12.
If 1.14 - 1.12 range is broken, look lower to 1.10 range for possible long.
The triple bottom has given plenty of time for longs to build, so I am not so sure if it will still hold if there is a fourth test. Got stopped out the long I held last week.
Thinking of going long this pair as it is a long term very oversold currency pair.

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