AUDNZD approaching support, potential for a bounce!
AUDNZD is expected to drop to 1st support at 1.03849 where it could potentially react off and up to 1st resistance at 1.04097.
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Audnzdbuy
AUDNZD LONG Hello everyone, its time to watch AUDNZD again, price is at the bottom! wait for price to give an impulse and look to go long, keep in mind that we have critical news the next coming 2 weeks on AUD and NZD. With 4/2/2020 AUD news and 12/2/2020 NZD news, they can move the market on our directions but we need to be patient on this pair. trade safe and good luck.
AUDNZD can go up 600 PIPS soonAUDNZD price action indicates that a big move can happen very soon. Price is consolidating at the bottom for nearly 2 months now and I believe and accumulation of orders is taking place here.
I have already bought AUDNZD and will continue to add more buys if it drops.
I have indicated with arrows about the possible price action in the coming days.
Either way, 1.0280-1.0410 is a buy area with final TP at 1.0924
AUDNZD Complete Analysis: Both Long and Short OpportunitiesAUDNZD is trading in a bearish move for more than two months now after hitting multi-week high back in November.
Lately, AUDNZD has gained some strength and consolidating at the bottom of the structure.
From this area, two things are likely:
1) A strong impulse to the upside.
2) A final bearish move and strong upside.
Either way, swing traders should look for buys when price hits the bottom.
However, day traders can still sell as price is facing strong resistance in the 4H chart.
Based on this analysis, my recommendation is to:
1) Sell AUDNZD@1.0408-1.0420.
TP:1.0320
SL:1.0436
2) Buy AUDNZD@1.0280-1.0350
TP:1.0672
SL:1.0250