olly48

AUD/NZD Rejecting From Trendline

FOREXCOM:AUDNZD   Australian Dollar / New Zealand Dollar
This is rejecting from the upper trendline. I want to see this continue to retrace to the support zone before rising and breaking above the trendline and onto the more significant downward trendline just above.

For best entry need to monitor this on 4HR timeframe using MACD and EMA's to find the moment this turns back higher from support. Another entry method would be to wait for this to turn higher and break the trendline and then enter a long on the retest of the trendline as a support.

Target is the major trendline above (marked in blue). Around 1.09500

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