AUD/NZD Possible Retracement Before the New Lows

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The AUD/NZD is showing signs of a possible retracement towards the POC zone. We might see a move up before the next drop.

The AUD/NZD might be targeting 1.0375-90 zone. The zone might reject the pair again towards the trend line. If 1.0320 breaks below the trend line and the price makes a close below it, we should see a continuation move down. Targets are 1.0295 with 1.0263 possible next week. Have in mind that the AUD/NZD is slower market – only 36 pips of ATR(5) so patience is needed for the move to develop.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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