AUDNZD Complete Analysis: Both Long and Short Opportunities
AUDNZD is trading in a bearish move for more than two months now after hitting multi-week high back in November.
Lately, AUDNZD has gained some strength and consolidating at the bottom of the structure.
From this area, two things are likely:
1) A strong impulse to the upside.
2) A final bearish move and strong upside.
Either way, swing traders should look for buys when price hits the bottom.
However, day traders can still sell as price is facing strong resistance in the 4H chart.
Based on this analysis, my recommendation is to:
1) Sell AUDNZD@1.0408-1.0420.
TP:1.0320
SL:1.0436
2) Buy AUDNZD@1.0280-1.0350
TP:1.0672
SL:1.0250
Lately, AUDNZD has gained some strength and consolidating at the bottom of the structure.
From this area, two things are likely:
1) A strong impulse to the upside.
2) A final bearish move and strong upside.
Either way, swing traders should look for buys when price hits the bottom.
However, day traders can still sell as price is facing strong resistance in the 4H chart.
Based on this analysis, my recommendation is to:
1) Sell AUDNZD@1.0408-1.0420.
TP:1.0320
SL:1.0436
2) Buy AUDNZD@1.0280-1.0350
TP:1.0672
SL:1.0250