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For the 4 consequent weeks, AUDNZD is consolidating.
The pair is coiling within a horizontal trading range.
From a current perspective I see two potential scenarios:
- In case of a bullish breakout of the range (candle close above 1.0645 - 1.0668)
a bullish continuation to 1.073 level will be expected.
- In case of a bearish breakout of the range (candle close below 1.0566 - 1.059)
a bearish move to 1.057 level will be expected.
And while the market is staying within the boundaries of the range
you either wait for a breakout or buy/sell its support/resistance.
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