Here’s 👉 an UPDATE on the 4HR chart time-frame of the #AUDNZD.
We can see price carved a potential bullish rising channel right from the Lower-low of mid march 2020 on the 4hr chart.
Price carved a potential bearish pin at a confluence zone which acts as a resistance level and also at the 50% fibo retracement level.
Price made a bearish rotation and currently retesting the dynamic support trendline of the bullish channel.
Closest resistance acts @1.03168 and closest support acts @1.01602
Will this formation result in a false breakout or what’s next???
Remember we are still in a long-term bearish trend and this may interest sellers to pull price in their favor, also this long term trend doesn’t give a 100% guarantee price may result into bearish state.
Wish to see how I approach and trade this currency pair??
Click here now 👉 https://bit.ly/37O38FZ
Want me help you become a better trader?? click here: https://bit.ly/2UBSdfm