AUD/NZD Next Month Outlook - Fibo resistance level to be broken for reversal

AUD/NZD Next Month Outlook - Fibo resistance level to be broken for reversal

25 September 2015, 12:11
Sergey Golubev
0
741

W1 price is below 200 period SMA (200-SMA) and above 100 period SMA (100-SMA) for bearish ranging market condition located within 38.2% Fibo support level at 1.0955 and Fibo resistance level at 1.1528:

  • the price is ranging to be around 23.6 Fibo level at 1.1173;
  • 38.2% Fibo support level at 1.0955 and Fibo resistance level at 1.1528 are located between 100-SMA and 200-SMA for the ranging market condition;
  • RSI indicator is estimating ranging condition to be continuing.

If the price will break 38.2% Fibo support level at 1.0955 so the primary bearish trend will be continuing.
If the price will break Fibo resistance level at 1.1528 from below to above so the primary bullish trend may be started with the secondary ranging.

Trend:

W1 - ranging
Share it with friends: