AUDNZD seems to resume downtrend

After breaking the support level at 1.0517 price has created a lower low and retraced back to the resistance level which previously was a support.

After retesting the level price is likely to resume its downward movement. If it can break 1.0393 level, I'm interested in going for short entry. This entry plan is by using Guppy Multiple Moving Averages in daily time frame.

I was also monitoring the pair using 3 SMA trading technique. Here I'm also looking for a short entry opportunity.

Trade is not fully valid as set up is not 100% perfect. But as nothing is perfect in this whole world, I want to go for it. Here I'm seeing a short uptrend line breakout trade opportunity. As this trade opportunity is along the major trend prevailing now, I'm willing to take this trade. To find confirmation, let's go to the lower time frame.

What we found here? The price has broken down and re-tested it. Now it's going down. If it can break the swing low, I'll go for short here.

Entry: 1.0438, SL: 1.0461, T1: 1.0418, T2:1.0391