Hello traders, here's my take on AUDNZD and possible bearish scenario that I anticipate. This pair has been in a continuous uptrend and now we're due a corrective phase. I expect a correction to the .10xx which is the 38.2 fib level discount of all that bullish impulse move. In getting the correction however, we have seen an ascending trendline that has broken and created a descending triangle and now I'm looking to short upon the retest of the descending trendline resistance.
However, I urge you to stay reactive.
However, I urge you to stay reactive.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.