Chart Of The Day: AUD/NZD
Blake Morrow | Jun 29, 2021 05:09PM ET
AUD/NZD may be setting up an inverted head-and shoulders-pattern. Usually, these patterns don't get much attention from me, however, this time may be a little different. The reason why is the move back in May as we broke back below the longer term trendline near the 107.00 level, which created the "head" but,more importantly, was a false breakdown stopping out any longs. A move back above the 108.25 level would signal (to me) a possible move back above the 1.1000 level in the weeks ahead.
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