AUDNZD Will Move Higher! Long!

Take a look at our analysis for AUDNZD.

Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is trading around a solid horizontal structure 1.087.

The above observations make me that the market will inevitably achieve 1.092 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

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

Comment:

Great beginning for a trade, let’s hope it goes further!