AUD/NZD- In A Support Zone, Will You Trade?
AvaTrade | Dec 04, 2013 07:14AM ET
The AUDNZD pair is trading in a support zone on a daily time frame. The pair has pierced the Bollinger band at this level which means that the volatility for the pair is high. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.
The RSI is also trading in an extreme level of oversold region which means that a corrective move could be on the card.
Important Zones
Support Zone
1.1026-1.093 Minor
1.073-1.0645 Major
Resistance Zone
1.1645-1.1546
1.2157-1.2082
Disclosure & Disclaimer:The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam
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