Possible "Bullish Butterfly" on AUD/NZD, short break below 1.053
We see a possible "Bullish Butterfly" pattern on AUD/NZD daily charts.
The pair is currently holding major support by 1.0532 (converged 20 & 100-DMAs), we see weakness on break below.
AUD/NZD finds major resistance at 1.06, bearish invalidation on break above.
Support levels - 1.0532 (converged 20 & 100-DMA), 1.05, 1.0472 (Sept 30 low), 1.0415 (trendline)
Resistance levels - 1.0578 (session high), 1.06 (falling trendline), 1.0612 (Nov 25 high)
Good to go short on break below 1.0530, SL: 1.06, TP: 1.05/ 1.0475/ 1.0415
The pair is currently holding major support by 1.0532 (converged 20 & 100-DMAs), we see weakness on break below.
AUD/NZD finds major resistance at 1.06, bearish invalidation on break above.
Support levels - 1.0532 (converged 20 & 100-DMA), 1.05, 1.0472 (Sept 30 low), 1.0415 (trendline)
Resistance levels - 1.0578 (session high), 1.06 (falling trendline), 1.0612 (Nov 25 high)
Good to go short on break below 1.0530, SL: 1.06, TP: 1.05/ 1.0475/ 1.0415
Commentaire:
TP 1&2 hit. Bias lower
Commentaire:
All targets hit.
The pair has taken major trendline at 1.0415.
Violation at trendline could see test of 1.0363 (Nov 9 lows).
The pair has taken major trendline at 1.0415.
Violation at trendline could see test of 1.0363 (Nov 9 lows).