AUDNZD: Market Overview and How to Trade

Here is another market, which should be added to the watchlist. The price has been falling for about 2 weeks, and the pullback will be logical in this structure. Also, the market looks oversold. RSI line reached the oversold zone, and it will be able to give us a solid reversal signal. MACD histogram supports a possible upward movement.

We don't know when the market will be stopped and reversed. But we know where it will be possible. It can be at 1.05500 support zone, which the price is trying to break now. Maybe it will be the lower support.

We should wait for a reversal signal and buy based on it using the lower timeframes. We can trail our pending orders to buy using the downtrend line from the 1H chart. We can use both variants. What is really very important, we must use the proper risk and money management. With such an approach, our trading will be good in the long run.