Thread: Aud/Usd
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The situation is a little strange, I think this northern movement - this is just a correction and probably renewed wave will occur in the southern region of the alligator moving averages which came now the pair, consider buying a dangerous climb, I do tselyus only in the south.
Elliott: flat correction down 1.0298
A corrective rise should ideally test 1.0385 or even higher than 1.0423. Supports are at 1.0311. Stop loss below 1.0294 zone.
Technical points
Key point 1.0329
Entry point 1.0363
Elliott 1.0397
Closing 1.0347
Projection 1.0298
Trendline 1.0324
Trendline 1.0408
Supports / Resistances
Res 2 1.0423
Ex-High 1.0397
Res 1 1.0385
Pivot 1.0359
Sup 1 1.0320
Ex-Low 1.0332
Sup 2 1.0294
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RBNZ wishes to lower NZD BNZ
Graeme Wheeler was appointed Governor of the RBNZ a month ago and the possible currency implications have been the subject of much investor discussion ever since. Predictably, questions about policy continuity have surfaced - especially given the ongoing national debate about the inconvenient strength of the New Zealand dollar.
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Pair is still forming the southern waves sliding door stop (fighting off the resistance of 0395), while the northern started small correction but of no renewal of the northern company can not speak, I only target the southern end of the correction and wait for the resumption of the fall will sell.
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The bias is bullish in nearest term testing
1.0380 – 1.0400 area, another consistent
break above that area should trigger further
bullish pressure aiming 1.0445 key resistance
area. On the downside, immediate support is
seen around 1.0335 area, a clear break below
that area could bring the price to neutral zone
in nearest term testing 1.0290 support area.
Resistance Level : 1.0380, 1.0445, 1.0550
Support Level : 1.0335, 1.0290, 1.0150
Trading Range : 1.0445 – 1.0290
Trend : Bullish
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AUDUSD had formed a cycle bottom at 1.0236 on 4-hour chart.
Another rise to test 1.0410 resistance would likely be seen, a break above this level will confirm that the uptrend from 1.0149 has resumed,
then next target would be at 1.0500 area.
Support is at 1.0290, only break below this level could trigger another fall to 1.0200 zone.
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AUDUSD has touched the support level at 1.0337. I think there's a potential for rejection here. If that happens, AUDUSD will go up to the resistance level at 1.0421. But if AUDUSD can break the yesterday's low, this pair may falls to the support level at around 1.0252
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AUD/USD still look bearish. The price now on try to break down to that pivot at 1.0323. Better idea to search for Sell OP here if price then can break that pivot 1.0323. On other situation, just wait and see if price still move above 1.0323. it's still sideways, of course.
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After the Reserve Bank of New Zealand decided to keep the base interest rate unchanged at 2.5%, the New Zealand dollar grew against its competitors. The new president of the Reserve Bank, Mr. Grime Wheeler noted in his statement that “the global economy is still weak and although the market outlook earlier this year has already begun to improve, the future of the world economy is still not optimistic”.
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