Technical outlook for AUDNZD over longer interval

After meeting our previous suggested technical objective areas, the AUDNZD has bounced sharply, encouraging us to analyze the bigger time frames.

audnzd-fxcomment-01-06-2015

Over weekly studies, we have caught some technical factors that should send prices higher over upcoming sessions as follows:

-Prices have positive divergence alongside bullish overlap as seen on the Know Sure Thing indicator.

-The AUDNZD pair is presently flirting with the median line of Pitchfork channel after drawing pin bar last week.

-Aroon indicator is positive.

-Column Parabolic SAR- colored in light blue- carries the movements from the underside.

Accordingly, longs are preferable over upcoming period, aiming to challenge 1.12 regions.

Amir El Araby

Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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