AUD/NZD WEEKLY SCENARIO – 08 MARCH 2022

forex technical analysis

AUDNZD Technical Analysis: Weekly Chart

In the weekly charts, AUDNZD is trading in an up channel.

It is trading above all SMA.

The immediate support is 1.0611 & the resistance level is at 1.0692.

AUDNZD is trading in the up channel until there is a trend reversal.

AUDNZD Technical Analysis: Daily Chart

In the daily charts, AUDNZD was trading in a up channel.

It is trading above 100 days SMA & below 20 and 50 days SMA.

The immediate support is 1.0630 & the resistance level is 1.0691.

AUDNZD was trading in the up channel before the breakout downside. 

How to Trade AUDNZD this Week:

AUDNZD will follow the downtrend until their trend reversal. So, remain bearish on AUDNZD.

TRADE SUGGESTION- SELL AT 1.0659, TAKE PROFIT AT 1.0630 AND STOP LOSS AT 1.0691

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