AUDNZD / H1 / Daily Forex Technical Analysis / 7.18.2019

18. Juli 2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is July 18th, 2019 and we will be taking a look at the Australian Dollar against the New Zealand Dollar. We are currently looking at the 1 hour time frame and are looking for price action to lose momentum as it retested it's prior lows and failed to break above. If price action cannot regain control above the 1.04 resistance area we will be looking for an entry short! Entry for a Short position near the 1.04427 area, with a Stop Loss near the 1.04543, and a profit level area of 1.04153 for what can be a profitable trade with a 2.52 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!