AUD/NZD 15-Minute Chart AnalysisKey Observations:
1. Trendline Break:
- The price broke below the ascending trendline, signaling a potential bearish shift in momentum.
2. Resistance Zone:
- The price is trading below the highlighted resistance zone (1.10560–1.10600) and retested it, confirming it as a potential supply area.
3. Bearish Setup:
- A short trade setup is active, with the stop-loss placed above 1.10755 and take-profit targets at key support levels near 1.10446,1.10314 and 1.10025.
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Trading Scenarios:
1. Bearish Continuation:
- If the price breaks below the first target level (1.10446), it could head toward the next support zone at 1.10314.
- A sustained bearish momentum could even target 1.10025.
2. Invalidation of Bearish Setup:
- If the price closes strongly above 1.10755, the bearish setup will likely be invalidated, and the trend could turn bullish.
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Trading Plan:
- Entry (Sell): Below 1.10560
- Targets: 1.10445, 1.10315 and 1.10025.
- Stop-Loss: Above 1.10755
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Patience and disciplined risk management are essential for this trade. Ensure to monitor momentum closely.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consult a financial advisor before making investment decisions. Trade responsibly.
