National Australia Bank technical analysis for the Australian and New Zealand dollars. Via eFX.
Price broke down from its broad 2016 triangle in Q4 2016 and challenged the bottom of the nine-month range and our downside target at 0.7150/00 in December. The response to nine-month lows at 0.7150/00 has been positive however, setting up an impulsive bullish reversal pattern in January. ST cracks are starting to emerge with a series of daily and weekly Doji (open = close) produced in the past two weeks.