Blue area shows support and a breakout below this area has confluence with the Fib 0618 and the base of the descending triangle.
If it breaks out I expect a strong down move.
Fundamentally NZD has had strong economic numbers recently while AUD depends on China and commodity strength which I am bearish on.
If it breaks out I expect a strong down move.
Fundamentally NZD has had strong economic numbers recently while AUD depends on China and commodity strength which I am bearish on.