The Aussie New Zealand Dollar.
Good evening Dynamic Traders,
Tuesdays post of the CHF started off well today but when the important news came out, it soon took away any gains gathered in the moring, giving a large gravestone doji (at the time of writing), to consider, but bear in mind the strong support below.
Tonights chart is of the AUDNZD, and is throwing up a mixed bag of confluences but I am going to note a few that you should be aware of.
Price is currently standing in a former SR zone, together with a breather level and RN, after its breakout early March.
However contradicting this is the MACD indicator which could mean possible further weakness to the next breather before a continuation of the trend, if indeed a continuation was to occur.
As trend trading is our goal, this is the option I am going to wait for, but should confluences change so too would the analysis.
As always please ensure to do your own analysis before taking any trades.
Good luck to you all.