AUD/NZD May Bounce off from 1.0950

After the brief move to the upside from 1.0910 AUD/NZD reached a resistance at 1.0950 and it formed a pair of shooting star candlesticks on the one-hour time-frame below that level. Both of these candlesticks are a signals for a likely move to the downside and should it begin the pair will probably fall back to the aforementioned support at 1.0910. If the pair breaks out below that level there will likely be a further move to the downside towards 1.0880 or even to 1.0860. On the other hand, if the signal is false and the pair continues rallying it will probably rise towards 1.0970, which coincides with the (MA)89 indicator on the four-hour time-frame.