It seems that AUDNZD is ready to reverse its current downside rather than to continue. Here are my reasons.
- AUDNZD price candles move under its two standard deviation channel, which is an extremely oversold.
- price candles are too close to an important support around 1.0400 and next support will be 1.0300
- A hidden divergence between AUDNZD candles and MASR Stochastic.
- MASR Stochastic is at extreme oversold under 30%.
Conclusion
AUDNZD is much more ready for a reversal to the upside which is considered as an opportunity for conservative trader to begin buying.
You can add you trades manually or depending on Bermaui Average EA: https://www.mql5.com/en/blogs/post/730567
Important Links:
MASR Tools Manual: https://www.mql5.com/en/blogs/post/721889
MASR Bands: https://www.mql5.com/en/market/product/43431
MASR Stochastic EA Example: https://www.mql5.com/en/blogs/post/731140
Best regards
Muhammad Al Bermaui, CMT