AUDNZD Technical Analysis on 4 Hour Chart – On the 4 Hour time frame, we see the pair retracing lower. Fibonacci levels have been drawn on the chart, taking 1.13134 as the swing high and 1.08903 as the swing low.

Looking at the chart, we can observe that price have been respecting the Fibonacci levels. At this moment, we have the pair testing the 38.2 Fibonacci level at 1.11518. A bounce from that level is expected. A brief foray below that level met with some buying from the bulls.

We will now observe whether bulls have the dexterity to push this pair up towards at least the 15 ema at around 1.12 before next upside target at 1.125 and the down trend line coming up next in sight.

If you are interested to be part of a Forex membership which will help you and guide you to become a better and more profitable Forex Trader, do contact me. I have built a community of traders on Facebook and it is an exclusive and secret group. All of us in the group trade the same way using the same tools and strategy taught by Ardy. You will also be getting timely signals for a trade entry. With the group we will be able to help each other better and prevent you from making mistakes unnecessarily. Don’t hesitate, contact Ardy or link with him on Facebook here: https://www.facebook.com/ardyismail77

To your trading Success!

~ Ardy