AUD/NZD 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early September the bears have taken control over the market, when the Aussie did not have enough strength to overcome the 1.13 level. However, at the moment the pair is appreciating towards the upper trend-line around 1.1150. Meanwhile, the technical indicators are pointing sideways, suggesting that consolidation around the 1.1100 level could follow. At the same time the SWFX traders are expecting the pair to climb higher, as 63.19% of them are bullish on the pair. With that all in mind, we expect AUD/NZD challenging the resistances around the 1.11 mark and if they are broken then advance towards the 1.1150 level could follow.
© Dukascopy Bank SA

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