It looks like AUDNZD is not done falling yet, possibly heading for the support level at about 1.075. That's pretty much where it coincides with the up sloping lower border of the channel, as well as the maximum excursion line of the red down fork, The AUD is one of the weakest currencies, not as weak as the yen, but much weaker than the sterling. The NZD is quite strong, certainly not as strong as the USD, but stronger than the EUR. However, the momentum analysis seems to be in favor of the AUD (well oversold and soon likely to strengthen), so taking advantage of this situation requires as usual good timing, patience, and stalking a perfect entry at higher levels.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
