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AUD/NZD Analysis, Chart, and Trading Idea

23.02.2023

Market Review

Analytics for AUD/NZD Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 


 

The trend is ascending. The downtrend five-wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 



Trading idea:

Sell at the formation of the ascending wave structure, when the (A) wave breaches 1.0951;

Stop-loss: under the local minimum of the descending structure (1.0924);

Target price levels: 1.1000, 1.1050.

Author: GC
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