Direct from the desk of Dane Williams.
After AUD/NZD bounced a little at support a fortnight ago, price has since turned and gone straight through the zone.
Take a look at where we're at on the higher time frame, daily chart below.
AUD/NZD Daily:
See the nice little bounce before the turn that I'm talking about?
Well, once we zoom in and look at the price action on the hourly, things start to get really interesting.
AUD/NZD Hourly:
Look at that Thursday night/Friday morning price action.
Right on Thursday's close at the end of the US session, AUD/NZD broke through the middle of our daily support zone.
You can then see that right on Friday's Asian session open, price perfectly retested previous support as resistance (to the pip!), before continuing lower.
The price action is just so clean, isn't it?!
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
Daily market analysis.