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AUDUSD holds resistance, GBPNZD forming a head and shoulders and gold about to drop? Read to find out!
AUDUSD has broken below the previous days low, and is now holding structure resistance. We are still looking for downside todays 0.7200.
Price stabilised at our outlined support zone and made a bounce as we expected. We're now looking for a pullback into the moving average ribbon.
Price pulled back into our area of interest, and bounced out of the resistance zone. Price is now at a support level, however we are looking for downside to continue.
On The 1H chart we can see price has formed a head and shoulder pattern, and we are looking for the neckline to break.
Price has broken the ascending trendline and now appears bearish. We are waiting for a bearish move to be confirmed.