AUD/NZD - price returning to weekly resistance now support?AUD/NZD price has today returned to a significant technical zone - the upper boundary of the weekly descending trend channel that has kept price in check for the past six years. Price broke to the upside from this channel in Early-August, which may signify a reversal in overall trend. However, price has performed breaks to the upside previously, only to then return back to the trend channel. Nonetheless as price action has returned to the upper boundary, we will be looking to see whether price action shows strong rejection on the daily timeframe, in which case we will enter long with an target of 1.095.
If price breaks back into the weekly trend channel, we will then starting looking for potential short entries, to catch the ride back down to the lower boundary.
Audnzdsignals
AUDNZD Sell SignalPattern: Channel Down since late 2017.
Signal: Bearish as 1) the price was rejected on the Lower High trend-line of the pattern, 2) the MACD made a bearish cross, 3) the rejection took place around the 0.786 Fibonacci.
Target: 1.0200 and 1.000 if you want to take higher risk.
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Previous AUDNZD signal:
AUDNZD - Buy NowAUDNZD shows that over sold situation in bollinger bands which is a bullish movement and middle bollinger band is crossing top of 50EMA also shows us a bullish movement.
RSI line also shows us whenever the price was hit 33.37 level and move to upwards. So all of these confirmation AUDNZD is better for buy option for certain period time or pips.
TP's & SL is up to you.
Note: Trade at your own risk and no any fundamentals are involved in this.
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