Huge Breakout in Proximity AUDNZD

2 thg 8, 2020

We have had a lateralization in the AUDNZD pair going back more than 5 years. This started after a huge downtrend that descended from 1.377. We are now probably about to experience a rally to the upside that will look to retrace this previous downtrend. Now most importantly the level that should hold is 1.056. I have to methods I might get in this: 1) if price breaks through the minor trendline in the oval, then I will look to get in as price comes back from those levels,2) if price just shoots straight upward I will buy at the next high at 1.08 designated by the yellow dotted line. Happy Trading everybody :)