AUDNZD Is Breaking Trendline SupportFeb 9, 2024

AUDNZD has been trading sideways for the last 12-14months, in a contracting range, which looks like a triangle within a downtrend. It’s bearish pattern that is now pointing lower as prices break some key trendline and slip through 1.0608 bearish level. So traders should be aware of a even more weakness in months ahead, possibly even a break below 1.0477 can follow this year.

This cross pair is also important when it comes to trading decisions on NZDUSD and AUDUSD pairs. On these, we are observing some deep corrections that are trading at the support now. So, if USD would turn down then our favorite pair for xxx/USD longs would be NZDUSD.

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.