AUDNZD broke ascending trendline support and bounced off of what it looks like descending channel (pink lines) which means that there is very good chance that the price will try to reach the top of the descending channel. If this is the case then we have multiple opportunities to get involved in the bull run. The more conservative approach would be idea A) if the price comes back to test the low of the channel or B) if the price breaks the ascending trendline (purple line) and bounce off of it. In the short term we could trade short pullback to the descending channel following the A idea.
@SamFadel, well i would like to see that too but i know for sure that there’s many traders eyeing on the pullback after break of the trendline to take it down but also many traders never look at the higher timeframes and don’t see the descending channel and that the price bounced off of it. Let’s wait and see how it evolves. Thanks for your comment @SamFadel and have a great weekend.