The AUDNZD exhibits a predominantly sideways trend with a hint of bullishness. The shorter SMA, initially beneath the longer one, is now at a pivotal intersection, potentially signaling an upcoming bullish crossover. The stochastic oscillator, sitting around the mid-level of 50 and positioned above its 3-day MA, further endorses this bullish sentiment. Traders should keep a close watch for potential breakout momentum if the bullish cues strengthen.
• There is a resistance level at 1.08988; followed by resistance at 1.09106 and 1.09266.
• There is a support level at 1.08156 Below, there are 1.08336 and 1.08631.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
September 21, 2023