AUDNZD Daily: The ascending TL has being a good support since September last year and lately the price broke the TL. At the moment we can see a bullish candle but still below the TL indicating a potential downward move that if persists we may see the price re-testing the 1.09362, Support level from December. If the price manage to break up the TL there will be a Resistance Zone to be break before any upward continuation move. The EMA(8) crossed the EMA(21) signaling a bearish move but be aware for a quick move up that could be a false breakout. AUD and NZD in general have a correlated move but some fundamentals can change that so it is worth to check the news first. Trade Safe.
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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.