Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.0974
Kijun-Sen level: 1.0974
Ichimoku cloud top: 1.0993
Ichimoku cloud bottom: 1.1054
AUD/NZD is facing strong resistance around 1.10250 and any trend reversal can happen only above that level. Any indicative break above 1.1025 would extend gain to 1.105/1.108.
The pair’s major support is around 1.0930 and break below will target 1.09098 (Aug 14th Low)/1.08755.
It is good to sell around 1.09725 for the target 1.08755.
Recommendation: Sell AUD/NZD around 1.09725, SL 1.1025, Targets 1.091/ 1.08755.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.0974
Kijun-Sen level: 1.0974
Ichimoku cloud top: 1.0993
Ichimoku cloud bottom: 1.1054
AUD/NZD is facing strong resistance around 1.10250 and any trend reversal can happen only above that level. Any indicative break above 1.1025 would extend gain to 1.105/1.108.
The pair’s major support is around 1.0930 and break below will target 1.09098 (Aug 14th Low)/1.08755.
It is good to sell around 1.09725 for the target 1.08755.
Recommendation: Sell AUD/NZD around 1.09725, SL 1.1025, Targets 1.091/ 1.08755.