Trade Idea: Bullish Reversal
AUDNZD has continued its move lower and lower following a bearish channel trend starting all the way back in May. Now price has reached a critical support level of the trend. This gives rise for a potential bullish reversal if price rejects a break lower.
Trade Details:
Positioning: Long
Time frame: 1H
Length of Trade: 3 Days to 1 week
Entry: Between 1.0390 to 1.0380
Stop: 1.0360
Exit: 1.0480
AUDNZD has continued its move lower and lower following a bearish channel trend starting all the way back in May. Now price has reached a critical support level of the trend. This gives rise for a potential bullish reversal if price rejects a break lower.
Trade Details:
Positioning: Long
Time frame: 1H
Length of Trade: 3 Days to 1 week
Entry: Between 1.0390 to 1.0380
Stop: 1.0360
Exit: 1.0480