AUD/NZD - highest since September 2015
AUD/NZD continue its upward rally. In November, price increased more than 500 pips. There was a return to consolidation in which price moved from June to October (see orange lines).
Today demand has confirmed its strength, breaking above resistance at 1.1027 and test of 1.1330 and 1.1440 levels seems to be a matter of time. Break above level 1.1400 give a signal to realization of huge head and shoulders pattern. Range of upward movement, which is estimated by distance between head and neck line, reaches to level 1.2560. In case of rebound, nearest supports are at levels: 1.1027, 1.0950, 1.0880.
Time-frame H4:
Time-frame W1:
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.