AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/NZD broke pivotal resistance level 1.0920
2019-11-11 • Updated
- AUD/NZD broke pivotal resistance level 1.0920
- Next buy target - 1.1020
AUD/NZD today broke above the pivotal resistance level 1.0920 (which stopped the B-wave of the previous intermediate ABC correction (2) rom March, as can be seen from the daily AUD/NZD chart below). The breakout of the resistance level 1.0920 follows the earlier breakout of the resistance level 1.0850 (which stopped the previous impulse waves 1, (iii) and (i)). AUD/NZD is expected to rise to next buy target at the next resistance level 1.1020 (multi-month high from March).
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...