AUDNZD: Wait for 4H close
AUDNZD is looking bearish. Comparing the NZDUSD and AUDUSD, we can see why this pair will be heading down. NZDUSD is resting on a major support, while AUDUSD made new lows. We are waiting for AUDUSD to retest the new resistance to confirm the downtrend, same reason for the AUDNZD. We are waiting for a 4H close below the trendline.
A possible Cypher Pattern is on the way as well, which can be used to grab some pips in between the move down. Also it will give us a great opportunity to short at target 2 of the pattern.
Trade with care.
A possible Cypher Pattern is on the way as well, which can be used to grab some pips in between the move down. Also it will give us a great opportunity to short at target 2 of the pattern.
Trade with care.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.