{"id":9874,"date":"2010-06-01T09:30:02","date_gmt":"2010-06-01T13:30:02","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9874"},"modified":"2010-06-01T09:30:02","modified_gmt":"2010-06-01T13:30:02","slug":"audnzd-breaches-consolidation-trend","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/01\/audnzd-breaches-consolidation-trend\/","title":{"rendered":"AUD\/NZD Breaches Consolidation Trend"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong> &#8211; The recent trend which has been forming on the AUD\/NZD daily chart  appears to have come to an end today. After a month of consolidating  towards the 1.2400 price level, the New Zealand Dollar (NZD) seems to  have gained the upper hand. The pair breached out of its consolidation  trend in a downward direction and currently trades near 1.2350. Our  technical indicators, as detailed below, seem to suggest that this  downward momentum could sustain itself for the next few days.<\/p>\n<p>The indicators I\u2019ve used here are the  Relative Strength Index (RSI), the Stochastic (slow), and Auto  Trendlines.<\/p>\n<p>The area of the chart indicated by Point 1 shows us the Auto  Trendlines which were superimposed onto the chart using this new  indicator and clearly displays the break-through point taking place  yesterday. A breach such as this typically indicates that the new  direction of the currency pair will be in the same direction as the  breach for a number of the subsequent candlesticks.<\/p>\n<p>The RSI at Point 2 demonstrates that the pair currently floats in  what is considered neutral territory and points downward. We can deduce  from this that there is no strong pressure in either direction and the  current movement will likely continue until such pressure becomes  evident.<\/p>\n<p>The Stochastic (slow), indicated by Point 3 in the chart, shows that a  bearish cross formed a few days back and what we are now seeing is the  correlating downward movement. Since this indicator has yet to drop  below the 20 line we can assume that the momentum for this pair remains  downward.<\/p>\n<p><strong>AUD\/NZD Daily Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/AUDNZD-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/AUDNZD-Daily-Chart.JPG\" alt=\"\" width=\"595\" height=\"585\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex  Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and  may not be suitable for all investors. There is a possibility that you  could sustain a loss of all of your investment and therefore you should  not invest money that you cannot afford to lose. You should be aware of  all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Greg Holden &#8211; The recent trend which has been forming on the AUD\/NZD daily chart appears to have come to an end today. After a month of consolidating towards the 1.2400 price level, the New Zealand Dollar (NZD) seems to have gained the upper hand. The pair breached out of its consolidation trend in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/01\/audnzd-breaches-consolidation-trend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;AUD\/NZD Breaches Consolidation Trend&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9874","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=9874"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9874\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}