- AUD/NZD is perking up in Tokyo and embarking on a break of key structure.
- AUD/USD rising towards channel top, 0.7180 eyed.
AUD/NZD is attempting to move in on the 1.15 figure in Asia as the Aussie recovers following a correction of the knee-jerk reaction to the news of the new variant of the coronavirus, Omicron. AUD/USD is embarking on a 36.2% Fibonacci retracement which is underpinning the cross to the tp side of the accumulation as follows:
AUD/USD daily chart
AUD/NZD hourly chart
AUD/NZD's hourly outlook is for a test of the hourly resistance once the first layer has broken. The immediate resistance at 1.0480 would be expected to act as a support on a restest of the area. If this holds as support, then bulls would be expected to move in further for a test of 1.05 the figure in the coming seasons.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.