Another AUD/NZD Uptrend Correction Ongoing?
AUDNZD has been cruising higher along a steep ascending trend line that has been guiding price action since mid-February, and the pair is currently testing resistance near the swing high at 1.1857.
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AUD/NZD Correction to Area of Interest Due?
AUDNZD has broken past a key resistance zone highlighted around 1.1400, indicating that bullish momentum is picking up.
AUD/NZD Reversal Pattern Forming As Bullish Momentum Fizzles
AUDNZD appears to be forming a potential double top reversal pattern as the pair struggles to sustain breaks above the 1.0980 resistance level.
AUD/NZD Trend Reversal Formation
AUDNZD failed in its last couple of attempts to break below the 1.1000 area, creating a double bottom pattern on its hourly time frame. Price has yet to test the neckline resistance around the 1.1050 minor psychological level.
AUD/NZD Bearish Trend Correction
AUDNZD has formed lower highs connected by a falling trend line on its hourly time frame, with price gearing up for a pullback to the resistance near the Fibonacci retracement levels.
AUD/NZD Head and Shoulders Pattern
AUDNZD could be exhausted from its climb, as the pair is forming a classic reversal pattern in the form of a head and shoulders formation on its hourly time frame.
AUD/NZD Retracement to Area of Interest
AUDNZD recently busted through a strong resistance zone around the 1.1100 major psychological level then retreated upon reaching the highs at 1.1150. A pullback to the former resistance zone appears to be taking place.
AUD/NZD Bearish Trend Channel Correction
AUDNZD has formed lower highs and lower lows inside a descending trend channel on its hourly time frame, with price just bouncing off support and gearing up for a test of the resistance.