AUDNZD Very strong long-term Channel Up

14 cze 2022

The AUDNZD pair has been trading within a Channel Up since the November 19 2021 Low. The price only broke outside this pattern twice but was limited to the -0.236 Fibonacci extension (March 15 2022) and the 0.236 Fibonacci extension (May 04 2022).

The 1D MA50 (blue trend-line) has been holding as a Support since March 17. The price is now on the 4th straight red 1D candle following the Channel's recent Higher High and the level to buy is either at the bottom of the pattern (around the 1D MA50) or if the 1D RSI hits its Lower Lows trend-line first. Target: the top of the Channel Up.


--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------