The Australian Dollar could be readying for its next leg higher against the New Zealand Dollar following losses since early October.
AUD/NZD recently confirmed a bullish Morning Star candlestick pattern, opening the door to extending gains.
But, prices still need to overcome the near-term 20- and 50-Day Simple Moving Averages. Clearing them exposes the 23.6% Fibonacci extension at 1.0486 before making way towards a falling trendline from March.
Otherwise, clearing the key 1.0280 - 1.0331 support zone may see prices resume the downtrend towards the 2020 low.
AUDNZD
AUD/NZD recently confirmed a bullish Morning Star candlestick pattern, opening the door to extending gains.
But, prices still need to overcome the near-term 20- and 50-Day Simple Moving Averages. Clearing them exposes the 23.6% Fibonacci extension at 1.0486 before making way towards a falling trendline from March.
Otherwise, clearing the key 1.0280 - 1.0331 support zone may see prices resume the downtrend towards the 2020 low.
AUDNZD