AUD/NZD - break above resistance at 1.0900
On October 30, AUD/NZD reached low at 1.0496; since then, the price moves in an upward trend. Upward movement has been corrected in previous days of 38,2%, which is a basic Fibonacci level. Currently, price is trying to return to uptrend. AUD/NZD reached to a strong resistance. So rapid break above should be unsuccessful. By four months before that, resistance at 1.0900 has stopped falls. This resistance is reinforced by fibo 50% of downward movement from the period of September - October 2015.
If there will be a rebound, falls should reach the level of 1.0730. If break above 1.0900 proves successful, the next resistance level is 1.0980.
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