AUDNZD bounces down from the Overbought Zone
On the 15 minute chart- the AUDNZD pair is shown to have encountered overhead horizontal
resistance by the Luxalgo indicator. It has been unable to get above the 2nd standard deviaion
line of the anchored VWAP and deflected downward. Price is now below the POC line of
the multisession volume profile. Overall, bearish bias is on the chart as confirmed by the
zero lag MACD with the lines crossing down on the horizontal zero line. I will trade an additional
short sell trade on this pair and review the strength of AUD as compared with EUR USD and
JPY for other trade possibilities. My target here is the underlying green zone of support and
demand.
resistance by the Luxalgo indicator. It has been unable to get above the 2nd standard deviaion
line of the anchored VWAP and deflected downward. Price is now below the POC line of
the multisession volume profile. Overall, bearish bias is on the chart as confirmed by the
zero lag MACD with the lines crossing down on the horizontal zero line. I will trade an additional
short sell trade on this pair and review the strength of AUD as compared with EUR USD and
JPY for other trade possibilities. My target here is the underlying green zone of support and
demand.