AUDNZD retesting a key level / Bullish perspective
Main items we can see on the chart:
a) The price is on a bullish trend since the beginning of 2020
b) We can see a clean breakout of a major resistance zone, and now we observe a retest of that level
c) IF the price is not able to break the current support zone (ex-resistance level), we expect a bullish movement towards the next level
d) To take trades on this kind of movements, you should use lower timeframes to study the current throwback (retest) and analyze when to trade the breakout
e) It is really useful to use the 4HS chart and the 1H chart to define those final details
a) The price is on a bullish trend since the beginning of 2020
b) We can see a clean breakout of a major resistance zone, and now we observe a retest of that level
c) IF the price is not able to break the current support zone (ex-resistance level), we expect a bullish movement towards the next level
d) To take trades on this kind of movements, you should use lower timeframes to study the current throwback (retest) and analyze when to trade the breakout
e) It is really useful to use the 4HS chart and the 1H chart to define those final details