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AUD/NZD: Eyes On Rising Trend-line

Published 01/29/2015, 02:03 PM
Updated 07/09/2023, 06:31 AM

Talking Points
  • AUD/NZD 4-Hr. trend-line in focus after repeated retest
  • The pair bumped its head on resistance the past two days
  • In the short run, who will win this sibling rivalry?

The rising trend-line on the 4-hr. chart of AUD/NZD is beginning to pique my interest, especially given the proximity of repeated touches. Trend-lines tend to become increasingly unreliable after successive test. As a rule of thumb, trend-lines are to be trusted until broken. That said, I will continue to give it the benefit of the doubt, but with a convincing closing 4-hr bar below, that sentiment will quickly change.

AUD/NZD: 4-Hr. Nov. ’14 – Present

--- Written by Paul Robinson, DailyFX Research

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