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AUD/NZD intraday: as long as 1.0820 is support look for 1.0880

2023-10-23
734

Our pivot point stands at 1.0820.

Our preference: as long as 1.0820 is support look for 1.0880.

Alternative scenario: the downside breakout of 1.0820 would call for 1.0800 and 1.0780.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (1.0839) but above its 50 period moving average (1.0838).

Supports and resistances:

1.0900 **

1.0890 *

1.0880 **

1.0870

1.0839 last

1.0830

1.0820 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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