Technical analysis of NZD/CHF
GBP/AUD broke combined support area
- GBP/AUD broke combined support area
- Next sell target - 1.7200
GBP/AUD today broke through the combined support area lying between the key support level 1.7380 (which has been reversing the price from the end of November, as can be seen from the daily GBP/AUD chart below), support trendline of the daily up channel from September and the 38.2% Fibonacci correction of the upward impulse from October. GBP/AUD is expected to fall toward the next sell target at the next support level 1.7200.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.