AUDNZD: Symmetrical triangle Oscillates the price range
Hello traders,
AUDNZD progresses with the seven weeks old descending trend, forming a symmetrical triangle which limits the pair's further advances. Moreover, the price range likely to revisit reset points 1.09300 and the 1.09000. A successful passthrough after the reset points may aim for the triangle support around 1.08750. The support break-off may try to fetch the quote 1.08500, but this point could confine the price further decline.
Alternatively, a reversal from the current trend and an upside 1.09700 triangle resistance clearance would set a floor for the price range to reach its next barrier 1.10000. An impulse formation around the 1.10000 should fetch the quotes 1.10300 and the 1.10600 in order to justify its strength.
Traders Plan your trades according to the price range.
Hit like, comment and follow for profitable trade Ideas.
AUDNZD progresses with the seven weeks old descending trend, forming a symmetrical triangle which limits the pair's further advances. Moreover, the price range likely to revisit reset points 1.09300 and the 1.09000. A successful passthrough after the reset points may aim for the triangle support around 1.08750. The support break-off may try to fetch the quote 1.08500, but this point could confine the price further decline.
Alternatively, a reversal from the current trend and an upside 1.09700 triangle resistance clearance would set a floor for the price range to reach its next barrier 1.10000. An impulse formation around the 1.10000 should fetch the quotes 1.10300 and the 1.10600 in order to justify its strength.
Traders Plan your trades according to the price range.
Hit like, comment and follow for profitable trade Ideas.
