AUD/NZD pauses four-day bullish streak, outlook remains bullish
The pair has shown a decisive breakout on sloping channel pattern, scope for further upside.
MACD and ADX support further upside in the pair. Chikou span is biased higher.
AUDNZD is setting up for a long.
The double bottom is at 1.043 area.
The 1.272 reversal of the last swing higher is in the same area.
As of now the market is just above the double bottom and having reached an area of reversal with three confluences.
1. A 1.618 reversal taken from the low on 27/05 to the high 21/06 (red)
2. Market has reached a measured move...
On the AUDNZD daily time frame, we see Ausi Dollar is seeking against NewZealand dollar it's already clean break out MA 200 on the weekly chart too. We expect the fall will continue to rally and meet its last lower low in the upcoming days.
On 1 hour timeframe Audnzd recently broke the descending channel and currently in a Subminuette-v within Minuette-i. I'll be looking for slight correction, maybe near 50% fibo level to complete Minuette-ii. Then I'll be waiting for a convincing impulse back up. Since it is Minuette-iii, I like to keep my target near 1.618 extension which is also a daily...
AUDNZD has been making strong bearish movement for 3 weeks. But recently the market is shifting from bearish to bullish. We can see on 4H that the market is consolidating. And today the market broke the consolidation but we have to see close above the consolidation level on 4H. So, if the market closes above the consolidation level then on the retest of that...
We have a interesting setup here on AUDNZD, what we have here is the daily came down to a previous support with a Double bottom, so now we know that we have to be looking only now for bullish reasons to buy unless its breaking down the support,
if you take a look you can see that the market provided us with a nice bullish candlestick formation breaking out of the...