FX.co ★ AUD/NZD

Hello traders, In the AUD/NZD pair, buyers were lured in and immediately dragged the price into the selling zone of Envelopes on the hourly and four-hour timeframes towards the resistance at 1.1636. It is possible that they are currently trapping sellers, but if there is no return above the resistance at 1.1636 with the closing of a four-hour candle, we can expect a continuation of the price drop in the AUD/NZD pair towards the support level at 1.1516. This level corresponds to the bottom of the trading range on the four-hour timeframe and is in line with a 55-day moving average with a deviation of -1%.