Is AUDNZD ready for another lower low?
AUDNZD continues to slide, while trading below a short-term downside resistance line, drawn from the high of June 19th. Given that the trendline remains intact, we will continue aiming lower.
A drop below the current lowest point of June, at 1.0729, would confirm a forthcoming lower low. The may clear the way towards the 1.0697 obstacle, or even to the 1.0674 zone, marked by the inside swing high of May 17th.
Alternatively, a break of the aforementioned downside line and a push above the 1.0800 territory could signal a change in the direction of the current trend. AUDNZD could then end up traveling to the 1.0862 barrier, marked near the current highest point of July.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
A drop below the current lowest point of June, at 1.0729, would confirm a forthcoming lower low. The may clear the way towards the 1.0697 obstacle, or even to the 1.0674 zone, marked by the inside swing high of May 17th.
Alternatively, a break of the aforementioned downside line and a push above the 1.0800 territory could signal a change in the direction of the current trend. AUDNZD could then end up traveling to the 1.0862 barrier, marked near the current highest point of July.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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