The AUD/NZD pair is trading within the support zone on a daily time frame. The price is also trading inside the downward channel on the same time frame and has recently started to challenge the upper line of this line channel, suggesting that the bulls could be taking the control.
The RSI is showing sign of deflection in relation to its price action, which means that the bias could be towards the upside.
AUD/NZD" title="AUD/NZD" width="1425" height="736">
Important Levels
Support Zone
1.2011-1.1921
Resistance Zone
1.12349-1.2310
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. Responsibility for trade decisions is solely with the reader.
by Naeem Aslam