AUD/NZD is currently forming a falling wedge pattern on the 1-hour timeframe, a structure typically associated with bullish reversals. Notably, bullish divergence on the RSI is developing while price continues to print lower lows, RSI is making higher lows, indicating weakening selling momentum.
Trade Setup:
Buy Stop Entry: 1.09309 (above recent Lower High — confirmation of breakout)
Stop Loss: 1.09094 (recent Lower Low )
Take Profit 1: 1.09520
Take Profit 2: 1.09740 (full pattern projection target)
Trade Setup:
Buy Stop Entry: 1.09309 (above recent Lower High — confirmation of breakout)
Stop Loss: 1.09094 (recent Lower Low )
Take Profit 1: 1.09520
Take Profit 2: 1.09740 (full pattern projection target)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.