The Overbalance analysis aims to identify three financial instruments, analyzed exclusively on a four-hour interval (H4). The analysis uses only the Overbalance methodology, which allows you to determine where the trend may continue or where it may change.
Today’s analysis covers three instruments, evaluated exclusively in terms of the 1:1 correction structure.
Australian Dollar/US Dollar
The technical situation on the AUDUSD currency pair remains largely unchanged. The price is once again rebounding from support at 0.6675, where the lower limit of the 1:1 geometry is located. According to the Overbalance methodology, as long as this support is not permanently broken, the uptrend remains in place. However, it should be noted that this level has been tested repeatedly, which may indicate its gradual weakening.
AUDUSD – H4 interval | Source: xStation5
GBPJPY quotes negated support at 211.64 at the opening, which, according to the Overbalance methodology, may pave the way for a larger downward correction. In such a scenario, the key level remains the lower limit of the larger 1:1 pattern, which falls in the region of 207.95. Only a sustained return of the price above 211.64 could indicate a resumption of the upward movement.
GBPJPY – H4 interval | Source: xStation5
The AUDNZD currency pair broke through support at 1.1604 overnight, which could result in a deeper downward correction. Comparing the current movement to the previous, larger correction, the next significant support is in the region of 1.1453. Only a sustained return above 1.1604 could restore the upward scenario.
AUDNZD – H4 interval | Source: xStation5
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