AUD/NZD - BREAK OR BOUNCE?
Double top formation showing strong resistance at around 1.07524. From the second high point on the double top there has been an MA downside crossover and a strong bearish movement down to the weekly trend line support which we are now sitting on. We could see a break of this trend line and see new 2016 lows or we could see a potential bounce from this trend line. I will be waiting to see a break of this trend line before entering a short order on this pair.
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