wait for the aud/nzd consolidation to break
Current situation:
- Price is at the bottom of a range on the daily chart
- Price is consolidating on the four-hour chart
Looking ahead:
- Waiting for the price to break on the four-hour chart with a close above 1.0550 to enter long.
- A break and close below 1.04 would mean a failure of the longer term range to hold and continuation of the current downward selling pattern.
Notes:
- On July 4th the RBA will make its cash rate announcement. Price may not alter consolidation until ten.
- Price is at the bottom of a range on the daily chart
- Price is consolidating on the four-hour chart
Looking ahead:
- Waiting for the price to break on the four-hour chart with a close above 1.0550 to enter long.
- A break and close below 1.04 would mean a failure of the longer term range to hold and continuation of the current downward selling pattern.
Notes:
- On July 4th the RBA will make its cash rate announcement. Price may not alter consolidation until ten.