Apr 18, 2013
Forex: AUD/NZD completes “bear flag” pattern, further downside coming?
The AUD/NZD closed the NY sessions slightly lower, down 22 pips at 1.2202. The pair had traded as low as 1.2715 at one point during the day, before finding support and edging just off the lows late in the session. Over the last week, the pair has been consolidating in narrow range between 1.2200 and 1.2260.
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