Chart of the Day -AUDNZD- (Nov. 14th 2018)

15th November 2018 Off By binary
Chart of the Day -AUDNZD- (Nov. 14th 2018)

AUDNZD is testing the lower end of the 3yr old triangle formation.

The AUDNZD is testing the lower end of the triangle that has been forming since 2015, but you could really argue since 2013. The RSI has hit oversold on a daily basis, and with China/US upcoming trade talks this November may assist the AUD  and we could see some relief for bulls into year end if there is some “nice play” between the two major economies. A move back above the 1.0700 level could entice a move back to the middle of the range near 1.0850.

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Blake Morrow

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