AUDNZD has been trading in small body candlestick formation since the past few trading sessions near the horizontal resistance line suggesting resistance at higher level. RSI has flattened out since mid-December and just starting the decline indicating the pair could decline in the coming sessions. It would be prudent to say that the currency pair could decline towards 1.0650 and 1.0600 if it sustains below 1.0720.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely