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Australian Dollar / Rand

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AUDZAR trade ideas

AUD/ZAR: Long-Term Bullish Trend with Key Consolidation LevelsKey Observations: Support and Resistance Levels: All-Time Low: Around 5.5000 Highlighted Support Zones: Around 8.7722 - 9.0948 (Red shaded zone) - This has been tested Around 11.0000 (Recent support zone marked as HL) Highlighted Resistance Zones: Around 12.5000 (Green shaded zone, near HH and All-Time High) - This has been tested All-Time High and major level at around 12.6800 Ascending Trend Line : Connecting higher lows (HL) from 2018 onwards. Higher Highs (HH) and Higher Lows (HL): Higher Highs (HH) : Indicate a bullish trend in the long term, showing that the price is making new highs over time. Higher Lows (HL) : Indicate continued bullish sentiment as lows are higher than previous lows, supporting the trendline. Current Price Action: Current Price: Around 12.1581, showing a slight positive movement (+0.0229 or +0.19%). Price Consolidation: The price is consolidating between the support level of 11.0000 and the resistance level of 12.5000. Ascending Trend Line Support: The price is currently supported by the ascending trend line, suggesting that the long-term bullish trend is still intact. Potential Scenarios: Bullish Scenario: If the price breaks above the resistance zone around 12.5000 and sustains above it, it could aim for the next resistance level near the all-time high of 13.0000-13.5000. Continued higher highs and higher lows would confirm the bullish trend. Bearish Scenario: If the price fails to hold the ascending trend line support and breaks below the recent support around 11.0000, it might test lower support levels around 8.5000. A break below the ascending trend line could signal a reversal or a more extended correction phase. Sideways Movement: The price might continue to consolidate between 11.0000 and 12.5000, forming a range-bound movement until a clear breakout direction is established.
by PhinduloMakhado
AUDZAR BUYI am seeing it go all the way up from the technical side but fundamentals always have the last word . The first reason why I see a buy is the fact price reached a previously tested support and gives us a third touch confirmation as you can see with the rectangle. The second reason I buy id the fact I seer the price has tested the bullish channel's support . I am crazy about technical analysis , but for me to enter a trade I will always wait for the fundamental confirmation . So as third confirmation , on the Australia Company Gross Operating Profits QoQ news release we have an actual reading of 7.1 % and is 4.1% more than the forcast being 3.0% , I am sure it will move the price up. I do not use technical indicators because they can be lagging behind the prices sometimes . I hate entering late . If you have a certain setup with indincators that helps you and you are willing to share , feel free to let me know. Thank you !
ALong
by vernel_icapi