Short

AUDNZD: Consolidation & Complete Indecision 🇦🇺🇳🇿

AUDNZD reached a year's low in August.
Since then the market is trading in a consolidation.

1.041 - 1.055 is our current trading range.
Depending on the reaction of the market to that I see two potential scenarios:

Because the global trend is bearish,
bearish breakout of the range is a highly probable scenario.
Daily candle close below the underlined yellow support will be a strong trigger
for bearish continuation.

Next support will be 1.03
In case of some changes in a fundamental sentiment,
bullish breakout of the resistance of the range will lead to a further bullish continuation.

Next resistance will be 1.06

Alternatively, consider the boundaries of the range for intraday consolidation trading.
Buying from support and selling from resistance you can catch a bunch of good winners.

❤️Please, support this idea with a like and comment!❤️

VasilyTrader

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