AUDNZD trade idea on H1Plan : wait for prices to bounce off horizontal / trendline support --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY
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Audnzdsignal
AUDNZD downside break quickly runs into a key stumbling blockThe key support level has been a level that buyers have leaned on for possible pullback.
The strong kiwi flows over the past two weeks have been in AUD/NZD as the pair slides back under 1.05 for the first time since August.
watch price action for possible pullback
AUDNZD Analysis: Price at the trendlineThe price has been following both an ascending channel and a falling trendline.
It has previously respected the trendline for four times and has come to test it for the fifth time.
If it bounces off then it will be a good sell opportunity.
Breaking of the trendline will invalidate this idea.
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