
Weekly Currency Index Technical Analysis – 9 February
Currency Index Notes
There was not much of a follow up from last week's analysis. Our only recommendation was to look for long positions in EURNZD on a dip. Looking back at last week's price action, we do however notice that there hasn't been any significant change to EURNZD price action.
Australian Dollar Index:
The Aussie Dollar is up 0.19% for the month and week, while closing 0.65% higher for Friday
We notice a consolidation near the lower trend line of the price channel
When using the RSI, there is a clear bullish divergence with RSI printing a lower higher low while AUD prints a lower low
This indicates a short term move to the upside and the most likely rally towards the broken support/resistance level at 1.54 - 1.53
We need to see a H4 or preferably daily close abov...