AUDNZD – Breakout Pullback Setup, Staying Bullish | Aug 8

Verified Profitable Trader

Chris Capre’s current live open price action and ichimoku trades: USDJPY, AUDCAD, SLV, AUS200

New to Forex? Then check out my FREE Learn Forex Trading Course with videos, quizzes and downloadable resources

Did you see my live trade setup on the AUDCAD? Don’t miss how I grabbed a quick +125 pips of profit breakout trading with a near perfect entry.

AUDNZD – Big Winner vs NZD 50bps Rate Cut, Staying Long (1hr chart)

Price Action Context

While MT in a bear trend, ST the AUDNZD is a in a bull trend after bouncing off the key support near 1.0298, and then sky-rocketing after the surprise RBNZ 50bps cut. Notice the breakout pullback setup off of the prior ST highs near 1.0453 as the level held perfectly and has produced a decent bounce thus far.

audnzd-breakout-pullback-setup-2ndskiesforex

Trending Analysis

ST I’m staying bullish and am expecting a move north to pass 1.06+. Traders not already long should look for pullbacks towards support for potential buying opportunities.

Key Support & Resistance Levels

R: 1.0545, 1.0615

S: 1.0454, 1.03

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article