AUDNZD

Good Day Dynamic Traders,

Hope you all had an awesome weekend. From the blog posts last week, the NZDUSD broke up through the resistance zone and the Loonie has continued down. The GBPCHF has made a fairly minimal move representing indecision. I will do a more detailed review in the coming days once we have had some further movement on last weeks blog posts.

The AUDNZD weekly chart below shows a triple top formation with price retesting the high in late April. The 1.300 figure has held and price has subsequently descended approximately 400 pips.














Casting an eye on the daily time frame a further potential chart pattern in the form of a head and shoulders is on display. Price is currently at the neckline. Should it prove that the sellers in the market have outweighed the buyers then we will see the head and shoulders complete.














Good Trading!
Bijal Shah

www.fxcps.co.uk
www.fxcps.eu
www.dynamictraderblog.com

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