AUDNZD Weekend Technical Chart Analysis on Weekly timeframe
Weekend - is the best time to be prepared to the next Trading week.
After an impressive rally over the last month, the AUNZD has now run into a key resistance zone between 1.0850 - 1.0900 area that may cause price to rotate lower. Due to the strength of this long-term resistance, I'm taking a bearish bias whilst price is contained near that area. You can watch for sell signals this week whilst under 1.0950 to get short in anticipation of a move to the downside from resistance.
Potential Risk Reward is about 1:3 or 1:4
After an impressive rally over the last month, the AUNZD has now run into a key resistance zone between 1.0850 - 1.0900 area that may cause price to rotate lower. Due to the strength of this long-term resistance, I'm taking a bearish bias whilst price is contained near that area. You can watch for sell signals this week whilst under 1.0950 to get short in anticipation of a move to the downside from resistance.
Potential Risk Reward is about 1:3 or 1:4
Comment:
Long-term ideas are performing better than short-term, it's my experience. Nice falling down predicted 1 month ago