AUD/NZD increased as much as 1.0947 level after breaking out from a minor continuation pattern. The bias is bullish as the pair failed to confirm a corrective phase in the short term.
The pair consolidated after the last upside momentum and now it seems determined to resume the swing higher. Technically, we cannot exclude a minor, temporary, decline as the rate could come back down to test and retest the broken upside obstacles before jumping higher.
H1 Chart Analysis!
AUD/NZD registered a valid breakout from the minor symmetrical triangle signaling a further upwards momentum. It has jumped above the upper median line (UML) which represented a dynamic resistance.
Closing above 1.0937 former high could really confirm that AUD/NZD should jump way higher in the upcoming days. As you can see on the H1 chart, AUD/USD failed to stabilize under the Pivot Point (1.0876) level indicating that the price could approach and reach at least the R1 (1.0972).
Conclusion!
AUD/NZD rallied in the short term confirming its breakout from the minor symmetrical triangle. The outlook remains bullish as long as the price will be traded above the 1.0891 former low.
The R1 (1.0972) and R2 (1.1033) are seen as potential upside targets. A larger growth will be validated by a valid breakout above the R1.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.