FOREX Analysis of AUD\NZD

[ChartSecret]

The AUD\NZD has formed an Bullish Flag in the last month, that is coming closer to breakout. Upon breakout we shall expect a movement up until reach of 1.29 Resistance level, which may serve as a block for price. Despite the Double Top that can be seen on Daily charts, the flag pattern is more likely to be taken into effect, turning this market upside down.

Source
http://www.chartsecret.com/content/bullish-flag-audnzd-forex-analysis

 

[MDunleavy]

AUD/NZD extended the correction from 1.3210 and dipped to as low as 1.2873 so far. Some more down would possibly be seen in the cross in near term as correction extends further towards 50% retracement of 1.2408 to 1.3120 at 1.2764 and the development will possibly limit Aussie's gain against Dollar and Yen. Nevertheless, we'd expect the correction to end near to 1.2764 and by then Aussie will start to outperform Kiwi again.

"P&F AUDNZD1440 Box Size 90X5 or(3.82%) HI/LO
Data 1.3121 - 1.0432 ~ 92 Month ~ 2799 Day
Database 2001 records 1.29087 (Last Close)
2002-07-18 00~00
2010-03-17 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

1.3050|~9O|||______________________________________________x_|0.54%|25.1%
1.2960|~18O||__________________________x___________________x_|1.23%|24.23%
1.2870|~27O||__________________________x_o_________x___x___x_|1.91%|23.37%
1.2780|~36O||__________________________x_o_________x_o_x_o_x_|2.6%|22.51%
1.2690|~45O||__________________________x_o_________x_o_x_o_x_|3.28%|21.64%
1.2600|~54O||__________________________x_o_________x_o_x_o_x_|3.97%|20.78%
1.2510|~63O||__________________________x_o_________x_o_x_o_x_|4.66%|19.92%
1.2420|~72O||______________x___x_______x_o_________x_o_x_o_x_|5.34%|19.06%
1.2330|~81O||______________x_o_x_o_____x_o_________x_o_x_o_x_|6.03%|18.19%
1.2240|~9OO||______________x_o_x_o_____x_o_____x___x_o_x_o_x_|6.71%|17.33%
1.2150|~99O||______________x_o_x_o_____x_o_____x_o_x_o_x_o_x_|7.4%|16.47%
1.2060|~1O8O|______________x_o_x_o_x___x_o_____x_o_x_o___o_x_|8.09%|15.61%
1.1970|~117O|______________x_o_x_o_x_o_x_o_____x_o_x_____o___|8.77%|14.74%
1.1880|~126O|______________x_o_x_o_x_o_x_o_____x_o_x_________|9.46%|13.88%
1.1790|~135O|__x___x_______x_o___o_x_o_x_o_____x_o_x_________|10.14%|13.02%
1.1700|~144O|__x_o_x_o_____x_____o_x_o_x_o_____x_o___________|10.83%|12.15%
1.1610|~153O|o_x_o_x_o_____x_____o_x_o_x_o_____x_____________|11.52%|11.29%
1.1520|~162O|__x_o_x_o_____x_____o_x_o_x_o_____x_____________|12.2%|10.43%
1.1430|~171O|__x_o_x_o_____x_____o_x_o_x_o_x___x_____________|12.89%|9.57%
1.1340|~18OO|__x_o_x_o_____x_____o_x_o_x_o_x_o_x_____________|13.57%|8.7%
1.1250|~189O|____o_x_o_____x_____o_x_o_x_o_x_o_x_____________|14.26%|7.84%
1.1160|~198O|____o_x_o_x___x_____o_x_o___o_x_o_x_____________|14.95%|6.98%
1.1070|~2O7O|____o_x_o_x_o_x_____o_x_____o_x_o_x_____________|15.63%|6.12%
1.0980|~216O|____o_x_o_x_o_x_____o_______o_x_o_x_____________|16.32%|5.25%
1.0890|~225O|____o_x_o_x_o_x_____________o_x_o_______________|17%|4.39%
1.0800|~234O|____o_x_o_x_o_x_____________o_x_________________|17.69%|3.53%
1.0710|~243O|____o___o_x_o_x_____________o___________________|18.38%|2.66%
1.0620|~252O|________o_x_o_x_________________________________|19.06%|1.8%
1.0530|~261O|____________o_x_________________________________|19.75%|0.94%
1.0440|~27OO|____________o___________________________________|20.43%|0.08%
1.0350|~279O|________________________________________________