- Analytics
- News and Tools
- Market News
- AUD/NZD threatens a break below key psychological 1.1200
AUD/NZD threatens a break below key psychological 1.1200
- AUD/NZD is under pressure below key hourly trendline support
- The bears are pressing on1.12 the figure that guards 1.1180 key structure.
AUD/NZD has been pressured at the start of the week, breaking below hourly trendline support to take on the 1.12 area ahead of 1.1180 late July highs. The following is a top-down analysis from a bearish perspective while price stays below the 1.1250s.
AUD/NZD daily chart
The W-formation on the daily chart is a reversion pattern and the start of the week's doji could be the makings of a bearish formation requiring an engulfing bearish close for the days ahead. In this regard, 1.1180 guards deeper support territory towards 1.1150 and a 38.2% Fibonacci retracement target as illustrated on the daily chart above.
AUD/NZD H1 charts
The price has slid below hourly trendline support to start the week, testing the bull's commitments at 1.12 the figure that guards 1.1180 key structure and a deeper correction for the week ahead.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
