SimpleFX Blog
    Facebook Twitter Instagram
    Monday, August 15
    Facebook Twitter LinkedIn Telegram YouTube
    SimpleFX BlogSimpleFX Blog
    Banner
    • Home
    • News
    • Tutorials
    • Updates
    • Opinion
    • Trading Academy
    • Trading Schedule
    SimpleFX Blog
    Home»Analysis»AUDNZD Approaching Multimonth Support Level – What’s Next?
    Analysis

    AUDNZD Approaching Multimonth Support Level – What’s Next?

    Zach WrightBy Zach WrightDecember 9, 2019Updated:December 9, 2019No Comments1 Min Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    Quite an interesting situation on AUDNZD. During the previous trading week, we saw a very rapid fall of the currency pair from the upper yellow bound to the lower wall of the yellow channel. Moreover, the bearish trend was formed within the green channel.

    It is likely that in the near future the market will reach the intersection point of the green and yellow walls near the 1.036 area. What happens next will depend on whether the bears break through this support level.

    If the level of 1.036 is broken below, the decline will continue to the red bound, which is an important support line. The target for bears, in this case, will be the level of 1.026.

    However, if we see a rebound from 1.036, and then the bulls start to push the price up, we can expect a rise to the upper bound of the green channel and the resistance level of 1.059.

    [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#df4444″]SELL AUDNZD[/button]        [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#3cc195″]BUY AUDNZD[/button]

    featured forex
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleWill AUDCAD Go North With the Bulls?
    Next Article Hey, Forex Traders! Time to Give EURAUD a Try!
    Zach Wright

    Related Posts

    Two Scenarios for BTCUSD in 2022

    August 12, 2022

    BlackRock Inc. To start a private investment fund.

    August 12, 2022

    Bitcoin Breaks $24 with Authority

    August 11, 2022

    Leave A Reply Cancel Reply

    Copyright © 2022. SimpleFX
    • SimpleFX WebTrader
    • Unilink Affiliate Tracker

    Type above and press Enter to search. Press Esc to cancel.

    We and our partners use cookies for analytics purposes and to serve personalized ads. You can view our privacy policy here and our cookies policy here
    Accept.
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT