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Audnzdpullback

AUDNZD Testing Key Support, Prepare For A BounceAUDNZD is now testing a major support level which is a good buying opportunity. Buy above 1.0551. Stop loss at 1.0474. Take profit at 1.0823. Reason for the trading strategy (technically): Price is now testing major support at 1.0551 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish harmonic formation) and a strong bounce could occur at this level to push prices up to at least 1.0823 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 2.5% where a corresponding bounce could occur.
Long
by MEX_Exchange
AUDNZD Carves Bull Flag Following 690 Pip RallyOver the weekend I mentioned the 1.0765 handle on the AUDNZD. Before the March 3rd close above the area, it had served as resistance on several occasions since May of last year. Although buyers haven’t shown much urgency, they have managed to hold price above the 1.0765 area this week. Furthermore, if we drill down to the 4-hour chart, we have what appears to be a channel within a channel. The price action over the last four weeks has carved out the larger of the two patterns. This formation has the look of a bull flag following the 690 pip run up from the current 2017 low of 1.0325. Within this descending channel, we have a similar yet steeper pattern. Today’s intraday break above resistance at 1.0808 signals that buyers may be ready to have another go at the larger channel resistance near 1.0900/10. From here, there are two ways to play the recent price action. The first is to watch for a buying opportunity on a rotation back to former resistance near 1.0800. A firm bid in this area would likely take the pair back to the 1.0900 region. The second option is to wait for a break of the larger channel before considering an entry. Although you’ll miss a portion of the move, the four-week structure is the more obvious play here in my opinion. I’m going to stand aside for now given the upcoming Australia employment figures at 9:30 pm EST. If we get a proper buy signal following the event, I may consider an entry. Otherwise, I’ll wait for a close above resistance near 1.0900/10.
Long
by Daily-Price-Action
AUDNZD Perfect Short opprotunity and Analysis Two scenerio conform our view on Audnzd ,,,, First ,,he made elliotwave pattern and now in elliotwave corrective move B to C,,,C corrective move complete at 1.0700 ,,,, 2ND ,,,he maade ABCD Pattern ,,,From top 1.1000 to 1.800 and then according to bc retracement ,pair going to 1.0700 level........nzdusd also bullish ,,,,sell from 1.0950 and tp 1 is 1.0800 and tp 2 1.0700 Also Show shooting star in Daily candle on 78.6 fibo level ,, that also conform the bearish trend in Audnzd ,,, Also audnzd breaking trendline on 30min chart Prefer to sell from 1.0950 and tp1 is 1.0800 and tp2 is 1.0700 Good luck
Short
by KhanBaba786
3
AUDNZD Bullish Pin Bar Hints at a Move HigherThe AUDNZD came alive in February and continued its bull move through the first half of March. It was the first significant higher high since March of last year when the cross was trading at 1.1280. Since last month’s high at 1.1018, the pair has pulled back and consolidated. But the way in which buyers have held price above 1.0765 suggests a healthy form of consolidation that could lead to the next leg up. Furthermore, Friday’s retest of 1.0765 carved out a bullish pin bar. The candlestick pattern suggests that a move higher is on the way, perhaps back to trend line resistance near 1.0900/20. As for a potential entry point, the 1.0790 area looks promising. This is the March 27th low and is also very near the 50% retracement of Friday’s range. Alternatively, a daily close back below 1.0765 would negate the bullish outlook.
Long
by Daily-Price-Action