A daily chart shows the AUD/NZD pair holding below interim resistance at the 23.6% Fibonacci retracement taken from the May 4th descent at 1.2650
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A daily chart shows the AUD/NZD pair holding below interim resistance at the 23.6% Fibonacci retracement taken from the May 4th descent at 1.2650
If a M15 close above 1.2700 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.2600 sell only and do not buy. If price closes back above it again do nothing
The range 1.2700 and 1.2600 is neutral area, any trade done in between is personal decision and not part of this analysis
the pair and as we can see from the chart is trading under level 1.2600 , so , that's mean the down trend is still standing and the pair might head to 1.2550 and then 1.2520 how ever the pair made any hourly correction
Although yesterday’s early rally in equities faded throughout the session, we note that the kiwi continued to outperform the aussie pressuring the pair to the downside.
It is more likely to go down to around 1.2450 or lower, and after that, it might have potentially to go up to around 1.2700 AND 1.2800
If a M15 close above 1.2600 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.2550 sell only and do not buy. If price closes back above it again do nothing
The range 1.2600 and 1.2550 is neutral area, any trade done in between is personal decision and not part of this analysis
the pair and as we can see from the chart is trading under level 1.2600 , so , that's mean the down trend is still standing and the pair might head to 1.2530 and then 1.2500 how ever the pair made any hourly correction
the pair and as we can see from the chart is trading under level 1.2600 , so , that's mean the down trend is still standing and the pair might head to 1.2530 and then 1.2500 how ever the pair made any hourly correction
If a M15 close above 1.2650 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.2550 sell only and do not buy. If price closes back above it again do nothing
The range 1.2650 and 1.2550 is neutral area, any trade done in between is personal decision and not part of this analysis
For those following this pair along with me, I’ve just re-established my full long position at 1.2535 and I have a stop on the entire strategy at break-even, which is 1.2447. I very seldom make any money trading the NZD so I guess I should prepare to be stopped out