AUDNZD - PREFER LONG

The counter is travelling in both support trend line and an accumulation phase from 28th June and 26th June respectively. We can still maintain long because the counter didn’t break the support trend line. The bullish trend still exists in this counter.

We can also go for a swing trade in the accumulation phase between the ranges 1.0715 to 1.0678. If the counter breaks both the accumulation phase and the support trend line the trend may reverse, this is the only possible way for a trend reversal.

Kommentera:

Please exit your long position, because the price broke out both the accumulation phase and support line.