Hi Traders! AUDNZD bearish opportunity forming at the moment. A detailed analysis of this sell setup is as follows:
AUDNZD H4 Chart:
On the H4 chart we have a strong supportive zone that has formed and the price which was respecting it so far has currently moved lower, broken this zone and is holding below it. We also have a hidden bearish divergence that has formed which we may consider as an evidence of bearish pressure. Hence everything looks good here for the bears and we may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.
AUDNZD H1 Chart:
On the H1 chart the price which is moving higher has created a bearish divergence which we may consider as an evidence of bearish pressure. We may now look for more evidences of bearish pressure and then start looking for sells.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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