E Crude Oil And AUD/NZD Intraday Price Movement

Oil is in risk-off mode; now showing a five wave fall in progress from 64.00 area, so we can expect another drop to around 60.00 after a current intraday rally into wave four. Short-term invalidation level is at 62.74.

Crude oil, 1h

On AUD/NZD price action is very clear. We have 5 waves down, so it can be an interesting opportunity on the short side after a three wave rise that is still underway into a 1.0620-1.0660 resistance area. Ideally, weakness will come in play sometime next week.


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