AUDNZD crashed support on 1.0630 level at the end of July. After that, the price fell almost 200 pips in very short time. Subsequently demand started to buying on last Tuesday and two days later the price has returned to 1.0630 level. We can see clear V pattern at the chart. This pattern predicts further upward movement of AUDNZD.

Currently, the best trading idea is to wait for breakout of 1.0630 level and after that, to join the trend by opening long position The nearest level that the price should reach is 1.0730 but even the test of 1.0960 level is possible.



AUDNZD_H1

 

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