While the price is above the support 1.0275, resumption of uptrend is expected.
We make sure when the resistance at 1.0630 breaks.
If the support at 1.0275 is broken, the short-term forecast -resumption of uptrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below...
Price is currently showing bearish momentum with the potential to make new lows after price has retarced to the price level at the grey line i have marked which is our entry point
Stop loss - Red price level
Take profit - Green price level
I believe AUDNZD should go into up-trend very soon.
We can see this hammer at the bottom of the bearish channel which means the trend should change now.
Furthermore, the price is moving "Sideways" in this triangle, so it's time for some movement to the resistance.
We can expect some bearish movement in the begging of the week, but eventually,...
AUD NZD IS ABOUT TO PRESENT US WITH A LONG OPPORTUNITY!
Making the description simple - we have our daily resistance at 1.05355 that have rejected around 5 times from that zone. With that been said, a clean break of 1.05355 and retest would present us with a long opportunity!
Please, be patience and see the resistance turning support in order to place a long...