AUDNZD may be heading for the 1.091 multipivot level once again. But first another test of the magenta median line. The AUD is getting stronger, much more so than the NZD. Found support above the prior major low, broke the basic bear trend line and is ready to make another leg up in this trading range we've seen it since the beginning of this year.
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Is it forming a bottom or some continuation pattern?
ForceFollower
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A potential scenario.
ForceFollower
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Currently the AUD is in a declining phase of momentum cycles. Market has found some support at the 50% retracement. If it holds, tomorrow there may be another leg up.