The situation on the AUD/NZD charts is quite rare. The pair has broken the resistance of a massive scale triangle pattern. The break out occurred in the borders of a dominant channel up pattern, which is set to guide the rate higher in the long term.
Meanwhile, in regards to the smaller scale situation, the pair has retreated in an almost obsolete channel down pattern in the borders of the channel up pattern. The channel down is set to be broken because of the support of the ascending channel.
In addition the situation is complicated by the still active resistance of the triangle pattern near the 1.1150 mark.
Meanwhile, in regards to the smaller scale situation, the pair has retreated in an almost obsolete channel down pattern in the borders of the channel up pattern. The channel down is set to be broken because of the support of the ascending channel.
In addition the situation is complicated by the still active resistance of the triangle pattern near the 1.1150 mark.