Search ForexCrunch


AUDUSD is currently falling from highlighted resistance levels (around the formal wave four) as displayed on the chart. We marked the highs of this pullback as the black wave 4 so the pair should move lower to complete wave 5 sequence in the next few sessions. Support for this move down are around 0.7250/80 levels.

Invalidation level is at 0.74466, as long as it holds we are looking to the downside.


audusd 1 (3)


For now the 4h structure on the NZDUSD pair looks quite nice, as the price made an impulsive move to the downside, breaking  the channel line, thus suggesting  the possibly wave one has unfolded as a part of a new bearish cycle that can face a contra-trend move in the next few sessions. The pullback is in wave two with resistance near the lower channel line around 0.688/0.691 zone. For now only wave A has shown up, so a more slow and choppy price action can be in the cards, as waves B and C are still missing.

Invalidation levels is at 0.70533-as long as it holds, we are looking to the downside.