AUDNZD has more room to drop


The AUDNZD pair followed exactly the pattern we presented on our previous analysis on September 23 and after completing a standard +4.70% rise on the blue Channel Up, it broke below it:

AUDNZD Testing Resistance. How to trade a breakout or rejection.

The pattern that was our benchmark on this accurate projection was the January – July 2021 Megaphone. After a rebound on the 0.786 Fibonacci level, the price got sold-off to a new Low on the 1.618 Fibonacci extension. That extension on today’s pattern is just below 1.07000. Only a 1W MACD Bullish Cross can invalidate the selling.

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