The tussle between the neighbours, Antipodeans and Kiwis, is set to continue as they stay in the range 1.07149-1.05254.
The pair took support at the lower end of the range and formed a descending triangle pattern, which should’ve yielded a bearish continuation.
However, the pattern was broken to the upside with a gap, thanks to Australian election news.
The fundamentals of both the countries are in a spot of bother, as they surging unemployment rates and the growth prospects looking bleak.
But, the AUD has a bullish sentiment owing to the continuation of Liberal party’s tenure, which can propel it to upper end of the range.
Currently, the pair slew downside, but was held by the bulls at the brink of the gap which hints the strength at the counter.
Hence, we expect the pair to move higher from here.
The pair took support at the lower end of the range and formed a descending triangle pattern, which should’ve yielded a bearish continuation.
However, the pattern was broken to the upside with a gap, thanks to Australian election news.
The fundamentals of both the countries are in a spot of bother, as they surging unemployment rates and the growth prospects looking bleak.
But, the AUD has a bullish sentiment owing to the continuation of Liberal party’s tenure, which can propel it to upper end of the range.
Currently, the pair slew downside, but was held by the bulls at the brink of the gap which hints the strength at the counter.
Hence, we expect the pair to move higher from here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.