💥Daily Maturity
The price has not broken the trend support down yet. The daily candle formation is in the form of pinbars. We may see a rise next week. 1.11250 is an important level, I expect the price not to exceed 1.11700.
Australia and New Zealand are countries that are very close to each other in terms of culture and location. Therefore, the Aud/Nzd parity has been horizontal for 6 years since the 2008 housing crisis. I think the breakdown will be upwards as a result of this 6-year compression.
Technical analysis
Monthly Maturity
Looking at the chart on a monthly basis, the price is very close to the upper resistance levels and the last month's candle close is the pinbar.
I think the first target of a pullback from this point is purple rising trend support. (1.0600) The price may not break the horizontal movement upwards and continue its horizontal movement for a while.
There is also a double bottom at $1.
Weekly Maturity
When we examine the price chart in the weekly maturity, the price tried to break the 1.11700 level by pinning twice. For now, it is watching very close to the rising trend line, we can't say it broke yet. If there is a breakdown in the downward direction, the points we will follow will be 1.08300-1.0600 and trend support.
The price has not broken the trend support down yet. The daily candle formation is in the form of pinbars. We may see a rise next week. 1.11250 is an important level, I expect the price not to exceed 1.11700.
Australia and New Zealand are countries that are very close to each other in terms of culture and location. Therefore, the Aud/Nzd parity has been horizontal for 6 years since the 2008 housing crisis. I think the breakdown will be upwards as a result of this 6-year compression.
Technical analysis
Monthly Maturity
Looking at the chart on a monthly basis, the price is very close to the upper resistance levels and the last month's candle close is the pinbar.
I think the first target of a pullback from this point is purple rising trend support. (1.0600) The price may not break the horizontal movement upwards and continue its horizontal movement for a while.
There is also a double bottom at $1.
Weekly Maturity
When we examine the price chart in the weekly maturity, the price tried to break the 1.11700 level by pinning twice. For now, it is watching very close to the rising trend line, we can't say it broke yet. If there is a breakdown in the downward direction, the points we will follow will be 1.08300-1.0600 and trend support.