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AUDNZD Aims for Channel Support

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*Due to the U.S. holiday, there will be no market commentary tomorrow*

AUDNZD had a big day yesterday, closing below the 1.0932 level. This level had previously acted as support in August, again in September and most recently in November. We can therefore begin watching for a move back to this level and should expect it to act as resistance.

A look at the 4 hour chart also shows a minor resistance level at 1.0910. We can therefore watch for bearish price action within a resistance zone between 1.0910 and 1.0932

Given that the pair is back within the weekly channel, we can use channel support as a potential target for any short setups.

AUDNZD weekly chart

AUDNZD weekly forex chart

Summary: Watch for bearish price action on a move back to the resistance zone between 1.0910 and 1.0932. Channel support can be used as a target for a move lower.

AUDNZD daily forex chart

USDCHF analysis

USDCHF 4 hour forex chart

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