The day has come! We talked about AUDNZD in our 13 January analysis. The three indicators that give downward signals worked with a %75 success in the last two years. The three musketeers, standard 14-day RSI turning from the overbought zone, RMI breaking its 14-day exponential moving average to the downside when still above 70, 50-day moving average z-score turning from near plus 2 standard deviation. All of these indicators gave good results separately in the last two years but when combined, odds jumping to %75.
The RMI still has not a finished signal yet but a really high chance that it will be at today’s close. The price’s breaking of the yellow trend line and the 1.0720 horizontal support is increasing the downside odds. But please keep that in mind, nothing is %100 in the markets.