Hi guys recently I made a swing analysis on this pair using a daily time frame with the idea to go short on it. Well during the past weeks price raised up to a supply area around 1.08594 and formed an engulfing bearish candlestick after which price fell to the level it is now, at this level you notice that price has been trending in an descending channel making it to form LH & LL, if u switch to the 4H timeframe, you will notice their is this support that's stopping price form dropping lower, it has tested that level for the 4th time now with no successful reversal or breakout..Since our main idea is to short this pair, I suggest we wait for a breakout or a retest of the level before going short with TP1 around 1.06094 & 1.01032 as TP2.. Thank you all for reading and if you have any question please drop it on the comment let's share ideas together and please don't forget to like and follow #Fxpride
Comment:
Audnzd. Price broke the support line and tested it again as a resistance and now it falling deep down, u can join the trend now
