AUDNZD Bullish Wedge, Part 2

An update on this mid-term analysis on AUDNZD and the bullish wedge. As we can see, it took more time and a slightly bigger drop to complete the wedge. Yesterday the NZD took a hit because of FA news, that is the reason why this big squeeze up has happened. This could be and should be the start of a bigger rally coming weeks.

I see 2 options now which can be seen on the right:

1) Making a bull flag and staying inside of that range
2) Seeing the flag fail and making a bigger correction to make a higher low and re testing the wedge as support.


Previous analysis:

评论:

Looks like it is going to be another type of flag, meaning a bigger one. So i have changed it. We should not break that green support now, otherwise the correction will most likely be bigger, testing the support of the wedge.