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- The Bearish Gartley formation on AUD/NZD charts is likely to proceed further. Some positive signs for AUD/NZD upside have emerged.
- The pair has held above the trendline support and has broken above 1.0679/81 resistance (highs Dec 17 & 24) which establishes a bottom for the pair around 1.0570 levels.
- MACD, Stochs and RSI on dailies support further upside in the pair. Tests of 1.1086 levels (Nov 24, 25 highs and 61.8% Fib of 1.1087 to 1.0567 fall) now likely.
Recommendation: Hold the long trade initiated in our earlier call for targets (http://www.econotimes.com/FxWirePro-Bearish-Gartley-formation-on-AUD-NZD-charts-good-to-go-long-on-dips-136915)
