Bulls may take this 10 top of 6 month range high 1.0700s
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AUD/NZD has gained nearly 300 pips from the election panic low under 1.0400, and based on the recent price action, bulls may be looking to take it back up to the top of its 6-month range in the upper-1.0700s.
Zooming into the 1-hour chart, we can see that rates are forming a tight consolidation range just below the recent highs. This bullish price action is allowing the near-term bullish trend line to "catch up" with price and may proceed a strong bullish breakout. Technical trend is strong enough to warrant a buy here.
Zooming into the 1-hour chart, we can see that rates are forming a tight consolidation range just below the recent highs. This bullish price action is allowing the near-term bullish trend line to "catch up" with price and may proceed a strong bullish breakout. Technical trend is strong enough to warrant a buy here.
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Closed at 10629. Wasn't moving. Did not want to take a large hitNota
F close. Was right to exit
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