AUDNZD - Wait for rejection
Good night everyone,
Audnzd is being on a strong buying rally from 1.03 level
As we can see on weekly chart (left) AUDNZD broke the uptrend tested multiple times and now it re-testing it, it may work as resistance.
On the daily chart (right) we can see price is now struggling on our 200 sma , should the price close under 200sma then we might have a good opportunity to short aiming 1.059 and 1.045 levels, RSI is already overbought.
Watch out since this wednesday we have variation in employment numbers (sorry if this is not the proper translation) and this number reveal the strenght (or weakness) from australian market.
Good trades everyone .
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Audnzd is being on a strong buying rally from 1.03 level
As we can see on weekly chart (left) AUDNZD broke the uptrend tested multiple times and now it re-testing it, it may work as resistance.
On the daily chart (right) we can see price is now struggling on our 200 sma , should the price close under 200sma then we might have a good opportunity to short aiming 1.059 and 1.045 levels, RSI is already overbought.
Watch out since this wednesday we have variation in employment numbers (sorry if this is not the proper translation) and this number reveal the strenght (or weakness) from australian market.
Good trades everyone .
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
The variation in employment was bullish for AUD and therefore avoid this short.
Comment:
Just to be clear, what i meant is
Wait for the "good news" volatility go away and then re-evaluate if the price will still reject the current resistance, if this happen then the setup is still valid.
Wait for the "good news" volatility go away and then re-evaluate if the price will still reject the current resistance, if this happen then the setup is still valid.