AUDNZD since yesterday is moving rapidly down as a result of which we beat both moving averages 10 and 20 as well as EMA120. As a result of these declines was also cut up and EMA10 EMA 20 and soon both should cut from the top of the EMA120.
Given that we are now in the area of local support 1.0523, in the near future we can expect a gentle upward correction. If the zone between EMA10 and EMA20 will be a strong reaction rejecting the supply in the area, then we can consider opening short positions with up to three potential levels of TP.
It should be noted, however, that the potential upward correction could also reach the vicinity of the level of the intersection of moving averages 10 and 20 coinciding with the local resistance 1.0596.
Bearish scenario also supports the present situation on the oscillator MACD, which indicates the effective downward trend.
Use this analysis with EMA 10/20 at Broker BDSwiss
