AUD/NZD 1.1426
IS THE KIWI RULE EVENTALLY OVER ?
This pair possibly found the bottom at 1.1200 levels. I feel the Kiwi rule is over against there Aussie. Now this pair is trading between 1.1204 to 1.1495 a 291 pips movement and 1.1499 is the 23.6% fibo resistence of the fall from 1.2453 to 1.1204 (1249 pips). Above 1.1499 it'll test the 1.1681 which is 38.2% fibo resistence of 1.2453-1.1204. By taking the longer picture, from the low of 1.0431 (first week of Dec 2005) it made the great high of 1.2453 (last week of Jul 2006) the rally of 2020 pips. It retraced at the maximum level, 61.8% of 1.0431-1.2453 which is at 1.1205. This suggest me that Kiwi rule is eventully over from here on Aussie will rule against Kiwi. If 1.1205 is taken out then it'll test the 1.0431 level. As long as it dont cross the 1.1681 level i point my finger towards the level of 1.1204 and 1.0431. For me 2020 rally is all over and 1.2453 the top is formed.
IS THE KIWI RULE EVENTALLY OVER ?
This pair possibly found the bottom at 1.1200 levels. I feel the Kiwi rule is over against there Aussie. Now this pair is trading between 1.1204 to 1.1495 a 291 pips movement and 1.1499 is the 23.6% fibo resistence of the fall from 1.2453 to 1.1204 (1249 pips). Above 1.1499 it'll test the 1.1681 which is 38.2% fibo resistence of 1.2453-1.1204. By taking the longer picture, from the low of 1.0431 (first week of Dec 2005) it made the great high of 1.2453 (last week of Jul 2006) the rally of 2020 pips. It retraced at the maximum level, 61.8% of 1.0431-1.2453 which is at 1.1205. This suggest me that Kiwi rule is eventully over from here on Aussie will rule against Kiwi. If 1.1205 is taken out then it'll test the 1.0431 level. As long as it dont cross the 1.1681 level i point my finger towards the level of 1.1204 and 1.0431. For me 2020 rally is all over and 1.2453 the top is formed.
posted by Naveen Pantera at 5:45 PM
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