AUDNZD short-term trendline breakout, testing resistance
Audnzd has been trading in a range for a while. Both are in a downwards channel in their usd pair. AUDNZD has sold off strongly in response to strong NZD CPI data 12hrs ago.
The support indicated are overlaps of fib-retracements and horizontal support. A strong break of any of these support indicate that 1 of the pair have broken out of the long-term channel since jan2018 in their usd pair. My bias is towards a bounce.
I've placed a buy order at 1.082, without any need for confirmation. I do believe a double bottom is forming on the 1hr.
The support indicated are overlaps of fib-retracements and horizontal support. A strong break of any of these support indicate that 1 of the pair have broken out of the long-term channel since jan2018 in their usd pair. My bias is towards a bounce.
I've placed a buy order at 1.082, without any need for confirmation. I do believe a double bottom is forming on the 1hr.
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