WK25, AUDNZD, Short, multi time frame

Daily analysis

• Last week we saw a new lower low on the daily chart as well as a break below a key level.
  
• During this break we also saw a bearish engulfing candle mid-week so we can expect further downward movement.
  
• Friday's candle showed some indecision (spinning top candle pattern) so we must look at lower time frames.
  
  4H analysis
  
  
• Price broke below the key (dashed) level and has been testing a minor support level
  
• The most recent rejection of the key level 1.06804 was also a rejection of the 200EMA
  

If we see a break of this minor support level and a retest then it could be a good opportunity to enter a short trade on this pair

Target 1 - 1.05875 (R:R - 1.1)
Target 2 - 1.30503 (R:R - 3)