This support is visible on the AUD/NZD weekly time frame and the pair has not been able to break below it not even once since October 2015, i.e. it has been about six months since that has happened last.
There are less than 100 pips left until the pair reaches said support zone at 1.0650 – 1.0660.
If the pair succeeds in breaking below that level, I think we could likely expect it to continue falling towards the next strong level around 1.0500 or even possibly 1.0200. If the pair cannot break below the support zone this time either, we will likely see it climb towards the resistance zone between 1.1290 and 1.1350.
I agree, it will probably continue falling.
ReplyDeleteI agree with your point of view.
ReplyDeleteGreat analysis!
ReplyDeleteWell spotted! I'll keep it in mind.
ReplyDeleteGood post!
ReplyDeleteGood review!
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteLet’s see how it keeps going.
ReplyDelete