21 Nov 2013
AUD/NZD double-tops at 1.13; retracing at 38.2% Fibo
FXstreet.com (Chicago) - AUD/NZD is pushed down once the 1.13 is touched as made evident again for the second time this week on a double-pattern formation ahead of Tokyo’s opening.
AUD/NZD Technical Levels
Price action reveals a pair that stalls right at the 1.13 key psychological level forming a double-tops patterns and made evidenced on hourly charts. Trading around the 38.2% Fibonacci level (1.1193/ 1.13) and is offered at 1.1272 oscillating between the supports aligned at 1.1241 (November 14th lows), 1.1193 (September 30th lows) ahead of 1.1145 (November 30th lows, 2007) and the resistances set at 1.13 (October 17th lows), 1.1357 (November 12th highs) followed by 1.14 (November 2nd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish on one-hour timeframe analysis and presents a neutral EMA20.
AUD/NZD Technical Levels
Price action reveals a pair that stalls right at the 1.13 key psychological level forming a double-tops patterns and made evidenced on hourly charts. Trading around the 38.2% Fibonacci level (1.1193/ 1.13) and is offered at 1.1272 oscillating between the supports aligned at 1.1241 (November 14th lows), 1.1193 (September 30th lows) ahead of 1.1145 (November 30th lows, 2007) and the resistances set at 1.13 (October 17th lows), 1.1357 (November 12th highs) followed by 1.14 (November 2nd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish on one-hour timeframe analysis and presents a neutral EMA20.