WK25, AUDNZD, Short, multi time frame

Singkat

Dolar Australia / Dolar New Zealand (OANDA:AUDNZD)

OANDA:AUDNZD Dolar Australia / Dolar New Zealand

Daily analysis

Last week we saw a new lower low on the daily chart as well as a break below a key level.
During this break we also saw a bearish engulfing candle mid-week so we can expect further downward movement.
Friday's candle showed some indecision (spinning top candle pattern) so we must look at lower time frames.

4H analysis
Price broke below the key (dashed) level and has been testing a minor support level
The most recent rejection of the key level 1.06804 was also a rejection of the 200EMA

If we see a break of this minor support level and a retest then it could be a good opportunity to enter a short trade on this pair

Target 1 - 1.05875 (R:R - 1.1)
Target 2 - 1.30503 (R:R - 3)

Penafian

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