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Will the AUD/NZD Breach the 1.2485 Level? Posted: 11 Aug 2009 05:51 AM PDT • The technical indicators used are the Relative Strength Index (RSI), the MACD/OsMA, and the Slow Stochastic. The Fibonacci Retracement lines were used as well. • The RSI shows that the pair rose from the over-sold section, and continues to point up, suggesting that the bullish momentum still has more room to run. • The MACD seems just about to make a bullish cross. Considering the MACD’s low location (currently at negative levels), such a breach could signal a trend reversal. • The Slow Stochastic already showed a bullish cross, and ever since the pair rose close to 100 pips. • The Fibonacci Retracement lines clearly show that the pair has breached the 23.6% line, located at the 1.2430 level. The pair is currently heading towards the 38.2% line, located at the 1.2485 level. • If the pair will breach the 38.2% line, according to the Fibonacci Retracement lines, it is likely to reach the 50% level, which means the 1.2520 level. • However, if the pair will not manage to breach the 38.2% line, it is likely to drop back to the 23.6% line, the 1.2430 level. AUD/NZD 4-Hour Chart

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