Forex Trading: AUD/NZD Holds 50% Retracement

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Forex Trading: AUD/NZD Holds 50% Retracement

By Greg Michalowski on November 21, 2008 | More Posts By Greg Michalowski | Forex News By FXDD

Looking at the AUD/NZD retracement analysis from yesterday (7/24 - 10/10), we see the 50% retracement level has held and the pair has since traded lower. We will now look for the 38.2% retracement to provide some support on the downside. It is also important to note that the 100 day and 200 day moving averages are about to converge.

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