AUDNZD - Update 3rd December, 2014

This is an update to the analysis I did last week, where I was expecting the AUDNZD to drop to the current levels and hold and possible buy.However with the dramatic fall / strong momentum to the downside, I have scratched my long trade.

Daily Chart

Weekly Quick View

• With the huge weekly bear and Monthly candle, It would be difficult to stop the bears
• We also are seeing fresh new lows on the AUDUSD
• Gold however we saw a huge rally back above 1200 level, (Positive for AUD strength, however we are not seeing this)
• DXY / US dollar we held above 88, and is on the way up towards 89-90 (Negative for AUD strength)
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Outlook Trade opportunity

Stay short or sell the break of current daily support towards 1.07

Risk Level __

Tips -

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