AUDNZD Will Move Lower! Sell!

23 Feb

Here is our detailed technical review for AUDNZD.

Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 1.059.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.055 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

Like and subscribe and comment my ideas if you enjoy them!

24 Feb

Catatan

I am confident in this trade so I will keep it open!