AUDNZD, SELL on Daily- 1.0885-1.0850 is a strong resistance zone. price already showed rejection from the resistance zone. "Bearish pinbar" on weekly chart is our confirmation for sell.
- If it breaks below 1.0645 level which is recent support then, our sell target would be 1.0350
- Price may again retest the resistance before falling.
Audnzdanalysis
AUDNZD short term bearish;can retest 1.0540 level AUDNZD has reached to the top of the channel and needs a retest of 1.0540
I am short term bearish as it is under negative divergence with a bounce lower from the critical resistance.
The first level to the downside is 1.06650 followed by 1.0540
Please note that it is a short term bearish idea which will be invalidated if the price breaks above the resistance at the top of the channel
around 1.0880 - 1.0900
AUDNZD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
AUDNZD Reversal Outlook Pattern!!! Rejection off Resistance....Today, AUDNZD managed to reject off the resistance level @1.0825 and we can see a strong bearish movement starting to take place. What I would like to see for AUDNZD will be a downward movement to the support level @1.0612 which I believe we will see a nice breakthrough heading for 2 important fib level mainly 50.0 and potentially 61.8 where a bullish movement could take over. If price level reaches 61.8 fib level, also a strong support level area, we could see a nice rejection for a bullish movement. However, as of now I will say AUDNZD will be a sell opportunity.
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AUDNZD short trade ideaPlan : support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
AUDNZD technicaly based forecast
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