I'm looking at the weekly bullish counter-trend approaching the center of a monthly bearish regression trend. Then I'm looking at the last time the chart crossed that center line and ...
During the last global slow down Australia was pretty much unaffected.
However this time... if anyone is less affected it's New Zeland. Only 1575 cases 22 deaths and they just ended a 4-month streak without a new outbreak (due to 4 new cases, yesterday). Summer unemployment is at 4% just like it was last year & the year before that! So what if they made tons of unemployment funds available ... their not using it!!! Being from Ohio we have 10 counties that have way more cases than New Zeland. Don't get me wrong Australia issues with the pandemic are low as well compared to my state. Australia did go one day without reporting a new case which is impressive However, that's a far cry from 4 months!
Eventually, this pair will price flip and the weekly and monthly will be heading in the same direction ... Just don't know if that's now or at the end of August?
The older trend line from 2019 would reject the price were it to magical reach 1.1034 today. Seriously thinking of changing my grip on this one.