The price of AUDNZD has been falling below 100 hours moving average throughout October. With the RBA decision, AUDNZD break above this resistance and started to form an uptrend. Now 100 hour moving average, big resistance of October can become an important support.
If the price break above the 1.07118 level which was also a bottom in September and resistance in October, the uptrend may continue to the 1.0770 level.
For downside moves, 1.0660 and 1.0637 levels can be followed as next supports.
Stay informed with market news by subscribing to our reading list.
FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs. The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.
MetaTrader 5 Windows
MetaTrader 5 Mac
MetaTrader 5 Android
MetaTrader 5 iOS
Web Terminal
