AUDNZD – eventually breaks trendline resistance

I posted the initial trade in November already, but it gave a false breakout at the time. Fast forward to today and buyers broke the trendline just before day close yesterday with about 20 pips. I will watch for bullish signals near the 1.0420/30 area. Major resistance at 1.0765 with minor resistance near 1.050 and 1.060. Bulls have tried to break the trendline 4 times already since my initial post in November and the (last time was on Tuesday. Let’s see if it holds this time around! I think I see a inverted head and shoulder pattern on the Daily, but not sure.

AUDNZD - breaks trendline resistance

Source: Maryna

5 thoughts on “AUDNZD – eventually breaks trendline resistance”

  1. Thanks Maryna agree its worth watching , I myself have taken a few nibbles on its way up .

  2. Been watching this pair also, Maryna in the 4HR chart the recent lows looks like a bull flag with trend resumption right after it broke above the resistance trend line.

  3. Profile photo of Maryna Maryna says:

    Thanks Dalmas and yes I hope there is not another false breakout, but it doesn’t matter as I will just sell it down and buy it up again as I did with the 3 previous false breaks! Good to know that you are seeing a possible bull flag and thanks for sharing with me.

  4. Hi maryna, I tried reaching you on Skype but all to no avail. You chat me up on Skype. Thanks

  5. Profile photo of Maryna Maryna says:

    Hi Dexterous, there is something wrong with SKYPE on your side as I’m getting Skype calls and messages. Tried to call you, but it’s just dead, so there must be a problem on your side.

Leave a Reply