AUDNZD Daily |
On a daily chart, pair has broken below major support area but has bounced from lower support area. Pair might be in for a pullback bat downtrend looks strong. I will be looking to go short at broken support area in hope that previous support will become resistance.
AUDNZD H4 |
To find good area for short, lets see on H4 chart. Pair is constrained in descending channel. There's one more resistance area if price goes above the channel. 100MA is also coming up. Channel's upper line and upper support can provide good resistance on pullback and that's where I will be looking to go short.
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AUDNZD H4 on 10-OCT-2012 |
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