AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/NZD broke support zone
2019-11-11 • Updated
- AUD/NZD broke support zone
- Next sell target - 1.0560
AUD/NZD continues to decline after the earlier breakout of the support zone lying between the support level 1.0650 (which has been reversing the price from February, as can be seen from the daily AUD/NZD chart below) and the 50% Fibonacci correction of the earlier sharp C-wave from the end of January.
AUD/NZD is expected to fall to the next sell target at the next support level 1.0560 (former monthly high from January). Sell stop-loss can be placed above the aforementioned price level 1.0650.
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