AUD/NZD could make another leg lower

AUD/NZD is consolidating around the 200 SMA at H1 chart, which is acting as dynamic support. However, October 27th lows are expected to give up to the bears’ force in an effort to reach the Fibonacci demand zone between the 50% and 65% level, at 1.1089 and 1.1030 respectively. We’re expecting that it could act as a pivotal area in order to reach the next bullish target lying at -23.6% Fibo level in 1.1376.

RSI indicator remains in the neutral territory.

nzd aud

Felipe Erazo

Similar

19.04.2019 12:34 USD/CAD: 55 Moving Average acting as support

There's a bullish 'Hammer', which has been confirmed by the following 'Three Methods' pattern. In this case...

cad

19.04.2019 08:55 USD/CHF: price to test nearest support

The market has been rising since the last 'Pennant' pattern formed. However, there's a 'V-Top' pattern, which has been confirmed...

chf

18.04.2019 12:17 GBP/USD: 144 MA acting as resistance

There're bearish patterns such a 'Shooting Star' and an 'Engulfing', which both have been confirmed...

gbp

Latest news

08.08.2018 14:30 EUR/USD: local 'V-Top' pattern

The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...

eur

17.01.2018 08:12 GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp