The AUD/NZD pair is showing strong bullish momentum as price has finally broken above a long-standing bearish trendline. After a period of consolidation within a descending triangle, bulls have managed to push price above the resistance zone, signaling a potential trend reversal.
Key Observations:
🔹 Bearish Trendline Broken – Indicates a shift in momentum from sellers to buyers.
🔹 Resistance Level Target: 1.09216 – This level aligns with previous supply zones and is a key target for bulls.
🔹 Retest in Progress? – Watch for a possible retest of the breakout zone around 1.0780–1.0800. Confirmation here could offer a great long entry.
🔹 Bullish Projection – If the retest holds, price could rally aggressively toward the 1.09200 level in the coming sessions.
Trading Plan:
✅ Buy on retest confirmation of the broken trendline.
🛑 Stop-loss below the breakout zone (around 1.0760).
🎯 Target: 1.09216 (next major resistance).
💬 Let me know in the comments: Are you buying AUD/NZD or waiting for confirmation?
#AUDNZD #ForexTrading #Breakout #TrendReversal #TechnicalAnalysis #PriceAction #TradingView
Key Observations:
🔹 Bearish Trendline Broken – Indicates a shift in momentum from sellers to buyers.
🔹 Resistance Level Target: 1.09216 – This level aligns with previous supply zones and is a key target for bulls.
🔹 Retest in Progress? – Watch for a possible retest of the breakout zone around 1.0780–1.0800. Confirmation here could offer a great long entry.
🔹 Bullish Projection – If the retest holds, price could rally aggressively toward the 1.09200 level in the coming sessions.
Trading Plan:
✅ Buy on retest confirmation of the broken trendline.
🛑 Stop-loss below the breakout zone (around 1.0760).
🎯 Target: 1.09216 (next major resistance).
💬 Let me know in the comments: Are you buying AUD/NZD or waiting for confirmation?
#AUDNZD #ForexTrading #Breakout #TrendReversal #TechnicalAnalysis #PriceAction #TradingView
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.