Direct from the desk of Dane Williams.
If you follow this blog, you know I like to talk about all of the forex and crypto markets that I trade, following their narrative on the daily chart as price moves between higher time frame zones.
Flicking through my watch list this morning and it was the AUD/USD cross that caught my attention.
Well, take a look at the daily zone that's in play on the chart below.
AUD/NZD Daily:
The last time we spoke about the pair, AUD/NZD was cleanly moving between zones just the way we like it.
But take a look at the top zone we had on that chart from 2 months ago (how has it been 2 months since we last talked about the Aussie/Kiwi?!).
Yep, that resistance zone is the one that price is currently retesting this time as support.
When it comes to higher time frame price action around support/resistance zones, 2 months is nothing.
Don't be in any sort of a rush to delete higher time frame zones from your chart.
Best of probabilities to you,
Dane.
FOREX BROKR | Hive Blog
Higher time frame market analysis.