VasilyTrader

AUDNZD: Potential Breakout Trade

Short
FX:AUDNZD   Australian Dollar / New Zealand Dollar

AUDNZD tests a key structure resistance one more time this week.
once again being rejected, it looks like chances are high that the market will soon return to its long term bearish trend.

for confirmation, I will be waiting for a bearish breakout of a rising trendline on 4H chart
(we need at least 4h candle close below)

then we can short the pair expecting a continuation to 1.016 / 1.004

in case of respect of trendline and new higher high higher close, the setup will be invalid
and bias switches to bullish.


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