AUDNZD correction 150+ pips full analysis
audnzd is showing oversold in the daily and 4 hour a correction is due and many newbie traders don't know when to get in or when to get out.
audnzd has touched the daily fib zone of .382 that with the oversold conditions brings a correction in sight. when to get in? when the daily candle closes above the .382 fib zone and when the 4 hour gets out of oversold conditions; when to take profit? AUDNZD usually likes to end corrections at .618 fib zone along with that there's a big resistance zone at 1.06674 so if it breaks that and the 0.786 fib zone it could be a full daily trend reversal instead of a correction but if the macd lines shows divergence then I would take profit.
audnzd has touched the daily fib zone of .382 that with the oversold conditions brings a correction in sight. when to get in? when the daily candle closes above the .382 fib zone and when the 4 hour gets out of oversold conditions; when to take profit? AUDNZD usually likes to end corrections at .618 fib zone along with that there's a big resistance zone at 1.06674 so if it breaks that and the 0.786 fib zone it could be a full daily trend reversal instead of a correction but if the macd lines shows divergence then I would take profit.