AUDNZD Bullish reversal soon
Updated
Price is near 78.6 retracement.
Close by are other areas of fibo confluence
Yellow box indicates structure
Price has just broken out of minor pink trend line. A retest would be ideal.
Red line is strong ascending trend line resistance which price is touching.
Majorly strong divergence on RSI>
On small time frame 15mins - entry looks to be 1.04120 with about 30 pips stop loss.
Potential gain is up to 250pips - area of main structural resistance.
Close by are other areas of fibo confluence
Yellow box indicates structure
Price has just broken out of minor pink trend line. A retest would be ideal.
Red line is strong ascending trend line resistance which price is touching.
Majorly strong divergence on RSI>
On small time frame 15mins - entry looks to be 1.04120 with about 30 pips stop loss.
Potential gain is up to 250pips - area of main structural resistance.
Note
- price went bullish out of minor trend line- made a rally then retraced to 1.0340 which is acting as support.
- 4hr RSI showing bullish momemtum
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