Olu
Short

AudNzd:Will It Hold Or Will It Go?

FX:AUDNZD   Australian Dollar/New Zealand Dollar
62 3 6
Comments on the chart
Comment: Price did not progress downwards as expected. Price could bounce here as the downside momentum seems to have slowed. Thanks MooreCapital for first mentioning that as a possibility
Comment: Price is still hugging the support line. The move down is not decisive anymore. However I am still looking lower
Comment: Still hugging the support line. Momentum has died for now
Comment: price is not bouncing...
more downside in store imho
We can also argue that the bears are loosing momentum( look at the size of the bears following that huge bear under your red line. Now, I think tis largely in trading range(TR), controlled by the leg up from 1.0000 to 1.12-1.13 neighbourhood
snapshot
Reply
Olu moorekapital
I see your point MooreCapital. Thanks
Reply
I see 2 Inverted hammars which means that Byers is trying to get control. Next week it will be clear.
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