Haven't posted anything in weeks due to personal issues.
Here's another analysis of the AUDNZD pair on daily chart. As we can see it has completed a 5 waves move to the upside and I expect it to retrace into the blue box, which happens to be the 61.8% retracement of the entire move starting from 11 Sept. 2021 until 16 June 2022. We just broke out of a rising wedge, retested it and we should see more selling pressure. The target is the low from 16 March 2022, which happens to be a key reversal point, look at the marked dots on the chart. Also the MACD histogram is showing bearish convergence with price action.
Here's another analysis of the AUDNZD pair on daily chart. As we can see it has completed a 5 waves move to the upside and I expect it to retrace into the blue box, which happens to be the 61.8% retracement of the entire move starting from 11 Sept. 2021 until 16 June 2022. We just broke out of a rising wedge, retested it and we should see more selling pressure. The target is the low from 16 March 2022, which happens to be a key reversal point, look at the marked dots on the chart. Also the MACD histogram is showing bearish convergence with price action.
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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.