AUDNZD: Price Reversal and Buy Opportunities

The price is bouncing from the support zone between 1.04225 and 1.04000 support levels. RSI is going to confirm the price reversal. The same goes about MACD lines. MACD histogram confirmed the price reversal, and now it supports an upward movement.

DMI is still bearish and confirms the strength of sellers. But if we get several bullish candles, ADX line will start falling, and it will allow us to buy based on the daily timeframe.

Now we have to wait for the close price of the daily candle. If we get the strong bullish candle, we will have a reversal candlestick pattern and buy opportunities from hourly charts. When ADX line starts falling, we will get a buy opportunity from the daily timeframe.

Now the market should be added to a watch list.