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RSI of AUDNZD is Signalling Divergence

December 2, 2020
in DAILY UPDATES, Forex, Home, Indices, MARKETS, Technical Analysis
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AUDNZD - Daily Chart - RSI 14
AUDNZD – Daily Chart – RSI 14

AUDNZD is feeling the bearish pressure for some time but RSI entered the “oversold” zone and at the same time signaling bullish divergence. The price may reverse from the 1.04-1.0430 area to the upside and test back the 1.0572 resistance level. 1.0572 level supported the AUDNZD for almost six months but now become a powerful resistance. As long as the price stays below this level any upside moves may become a selling opportunity.

For downside moves, below 1.0430-1.04 zone, 1.03 may become a likely target.

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