Australian Dollar: AUDNZD – Potential Bearish Reversal

Australian Dollar: AUDNZD – Potential Bearish Reversal

AUDNZD is overall bullish however, it is approaching a strong resistance and upper blue trendline so we will be looking for sell setups on lower timeframes.

 


on H1: AUDNZD is forming a channel in red but the lower trendline is not valid yet, so we are waiting for a new swing low to form around it to consider it our trigger swing. (projection in purple)


Trigger => Waiting for that swing low to form and then sell after a momentum candle close below it (gray zone)

Meanwhile, until the sell is activated, AUDNZD can still trade higher. Always follow your trading plan regarding entry, risk management, and trade management.

 

Richard Nasr

Richard Nasr

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