AUDNZD is traveling in a trend channel that's visible on the 1-hr chart. Price deflected off the upper guardrail today and, as expected, sank lower, solidifying the downtrend. The target for the AUDNZD is the lower guardrail on the channel. Since price is expected to go much lower, now is the time to catch the downtrend. It would be nice to wait for a pull back...
There's a clear bearish pennant forming on the AUDJPY in the 15-minute timeframe. A bearish pennant forms when a triangle appears following a sharp downtrend. It is a continuation pattern that signifies a move lower. Recent news suggests Australia is struggling to contain COVID-19, given a surge in cases in Victoria (Australian state). As a result, it seems that...
