12 May 2015
AUD/NZD heading towards 1.1095 – Goldman Sachs
FXStreet (Barcelona) - The Technical Research Team at Goldman Sachs believes that AUD/NZD has completed a very big 5-wave decline and is now targeting higher levels.
Key Quotes
“Ending diagonals/wedges are characteristic of 5th waves which further confirms the theory that a near-to-medium term low may already be in place.”
“The wedge has a target at the Jan. 29th high ~1.0798. The long-term wave count implies that the market could eventually retrace ~38.2% of its decline which is all the way up at 1.1095.”
Key Quotes
“Ending diagonals/wedges are characteristic of 5th waves which further confirms the theory that a near-to-medium term low may already be in place.”
“The wedge has a target at the Jan. 29th high ~1.0798. The long-term wave count implies that the market could eventually retrace ~38.2% of its decline which is all the way up at 1.1095.”