AUD/NZD is Still Bearish

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

AUD/NZD is still bearish, despite the retracement to the upside.

We can see the descending trend line and the price is making lower highs. At this point we can assume that the technical retracement will soon be over and the price will proceed further down. Targets are 1.0378 and 1.0289. The RBA was a bit bearish so the downtrend is expected to continue.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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