Hello Traders,
The AUDNZD is looking like it may make a move upwards before trending back down. On the shorter time frames (4h), Hidden Bullish Divergence has formed at the bottom of the current pull-back. I expect price to rise back up to the current Resistance level around 1.0800 before making a significant move downwards.
The 1W chart is well above the zero-level and the trend appears ready to continue downwards. Hidden Bearish Divergence just formed on the 1W MACD/Price Chart, but I expect price to make one more push towards Resistance before falling due to the Bullish Divergences found on the shorter time-frames.
I will be watching this pair closely at the start of the trading week for a possible long-trade before entering a short position closer to Resistance.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions and is for educational purposes only*
The AUDNZD is looking like it may make a move upwards before trending back down. On the shorter time frames (4h), Hidden Bullish Divergence has formed at the bottom of the current pull-back. I expect price to rise back up to the current Resistance level around 1.0800 before making a significant move downwards.
The 1W chart is well above the zero-level and the trend appears ready to continue downwards. Hidden Bearish Divergence just formed on the 1W MACD/Price Chart, but I expect price to make one more push towards Resistance before falling due to the Bullish Divergences found on the shorter time-frames.
I will be watching this pair closely at the start of the trading week for a possible long-trade before entering a short position closer to Resistance.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions and is for educational purposes only*