Day: July 25, 2010

AUD/NZD Range-Bound from June 1st

The AUD/NZD daily chart shows an interesting situation appearing since June 1st. The currency pair is trading inside the range formed by 0% and 23.6% levels of the Fibonacci retracements drawn for the last bearish trend. The range channel isn’t very strict as there are both upward and downward spikes in it but it’s still a definite chart pattern. It’s quite hard to predict the breakout direction, so, it’s better to wait for it […]