Key Technical Levels
The 20-Day and 50-Day SMA’s converging at 1.2580 offer a resistance level while the 61.8% Fibo of 1.2326- 1.2771 at 1.2497 could limit downside risks. The current descending trend channel will give scalpers target levels to enter and exit positions.
Quantitative Metrics
The AUD/NZD boasts a narrow Bollinger band width at 308 pips which speaks to the pair’s tendency to trade in a tight range. The ATR spied higher but at 107 pips is at the lower range of the most traded pairs. Additionally, two spike’s due to event risk attributed for the majority of the volatility.
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