AUDNZD 4H Chart: Re-tested upper channel
The Australian Dollar continued to be trading in a down channel against the New Zealand Dollar after hitting the upper boundary of the dotted channel on January 29.
The currency exchange rate could continue moving south after the upper channel is re-tested .
During the following trading sessions, the movement is likely to continue downwards to find support at the monthly S2 at 1.0725. In addition, technical indicators favour a further decline for the AUD/NZD pair.
The currency exchange rate could continue moving south after the upper channel is re-tested .
During the following trading sessions, the movement is likely to continue downwards to find support at the monthly S2 at 1.0725. In addition, technical indicators favour a further decline for the AUD/NZD pair.