AUDNZD: Bearish Divergence as Trend Reversal Signal

The market gives us a trend reversal signal based on a bearish divergence not far from 1.08520 resistance zone. What does it mean? It means that we have a possible selling opportunity. RSI confirms the price reversal. MACD is going to support a downside movement.

It is possible to search for sell signals from the resistance using the daily and hourly timeframes. In order to get an additional bearish signal, wait for a breakout below the local uptrend line.

Stop orders must be placed above the resistance and the local swing high. Profit targets must be placed at SMAs and 1.05000 support. Risk per trade must be no more than 1-2% from the capital.



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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.