The AUD/NZD currency pair has been tended south since the middle of August when it made a U-turn from the upper boundary a dominant descending channel pattern at 1.1150.
The general direction is expected to remain south within the scope of the following week. Two important levels to watch out for are the lower boundary of a four-month descending channel at 1.0410 and the monthly S2 at 1.0230.
Furthermore, technical indicators suggest that this decline might not happen immediately, as some upside pressure is likely to push the currency exchange rate towards a resistance level at 1.0630.
Written by Admin
Install your trader software at VPS server of one of the super fast providers:
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...
Federal Reserve Chairman Jerome PowellKevin Lamarque | ReutersDespite what he sees as a rapidly recovering ...
A man wears Levis Strauss & Co. clothing during the company's initial public offering (IPO) ...
Alex Wong | Getty Images News | Getty ImagesPresident Joe Biden asked Congress for a ...