#AUDNZD bearish move possibility
Updated
As can be seen in the chart, we have bearish divergence in the 4H and daily timeframes, suggesting that the price might have reached the end of its bullish move.
Furthermore, in the 1H timeframe, the price has managed to shift market structure towards bearish by breaking below the previous higher low. Now, the price seems to be completing a pullback to the broken short-term trendline and previous support zone, which now act as resistance.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Furthermore, in the 1H timeframe, the price has managed to shift market structure towards bearish by breaking below the previous higher low. Now, the price seems to be completing a pullback to the broken short-term trendline and previous support zone, which now act as resistance.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Trade active
Price went a little bit higher than I expected, but analysis is still valid.Trade closed: target reached
Price reached our initial target and went beyond. price target for a bearish move is much lower than the current price.
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