Lately non-US crosses have been much more attractive for me
AUD/NZD stands out as one of the best performance in my book so far …
You can see how beautifully respects the trend line exactly to the pip
and bounces up again .
Despite overcoming 50%Fib level , on its way up
have been stopped by 200 day EMA and 200 day SMA which happened to coincide at the the same level of 1,2895.
At this point RSI is right under 50 ,
meaning that is highly possible (not necessary) to see some pull back
before keep up higher .
Our targets are set at the key 1,3000 level
with RSI crossing above 6o (8H) 1,3050/80
Keep in mind that the next Fib level to the upside (1,3088)
acts as strong resistance shaping the wedge formation
as the price action progresses inside,
congestion and fake out brakes are expected.
the best way to be well informed
and keep track of the developments on the AUD/NZD
as well as many other pairs
is to follow me on twitter @EmanuilValkov