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Audnzdshort

AUDNZD - Dropping VERY Soon! Following on from our last post on AUDNZD, price pushed a bit higher and it appears we're in a descending channel and approaching the upper limits of the channel. We are anticipating NZD strength soon which would help push AUDNZD lower. Trade Idea: - Watch for rejection of the descending channel resistance and 78.6 fibonacci - enter when there's rejection - stops above the channel - gradually take profits with final profit being the double bottom (500pips) Goodluck and as always, trade safe!
by WicktatorFX
9
AUDNZD with a Clear PlanFor more highly detailed daily analysis, please feel free to go ahead and click on the follow button. Any questions, please do ask them! We can see our 4H AUDNZD chart with a rally out of a clear consolidation zone that lasted several weeks. This harsh move out has pushed us to new resistance levels and leaves us a great profit margin for a fall back to comfortable support and our key MA's. We can already see price reacting to this area and starting to fall. On this fall we are looking to exit around the Fractal zone, denoted by the eclipse symbol (red). This fall will be dependent on market sentiment in the coming days before the weekend.
Short
by WillSebastian