AUDNZD LONG POSITION w/ CONSOLIDATION @ MAJOR FIB LEVELS (below)

15 de abr. de 2018

The Kiwi has always been a volatile currency but loyal at the same time. Several fib retracment charts were plotted to see the exact position and movement. On the month chart the AUDNZD is coming off a 3 yr downward trend to consolidate over the last 3 yrs at the 38% level. On the weekly chart the consolidation is clearly seen. But it is at the daily chart where it has tested a previous key level enough times for a reversal toward the 23%, 38%, 50%, ad ultimately toward the 61% level. Long position is recommended.