AUDNZD - 8h pinbar rejecting previous resistance levels
AUDNZD is at a key level. Price had been trending strongly since mid September and some correction is due.
A small pullback at key resistance 1.027 has found strong support, rejecting previous sideways and horizontal resistance levels confirming that the trend will probably continue. There may be a bit of bumpiness as we retest 1.0730 again, but if we get in on a 50% retrace of the 8h pinbar, we will already be close to 2R profit at that point with good potential for more if price breaks resistance.
A small pullback at key resistance 1.027 has found strong support, rejecting previous sideways and horizontal resistance levels confirming that the trend will probably continue. There may be a bit of bumpiness as we retest 1.0730 again, but if we get in on a 50% retrace of the 8h pinbar, we will already be close to 2R profit at that point with good potential for more if price breaks resistance.
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