AUD/NZD M Formation broken down taking to 1.0454

Short

Australian Dollar / New Zealand Dollar (OANDA:AUDNZD)

OANDA:AUDNZD Australian Dollar / New Zealand Dollar

trendanalysis chartpattern fundamental audnzd audnzdshorts audnzdanalysis audnzdforecast

M Formation formed on the daily. The price broke below the neckline and it looks like there is some supply taking place.

We are seeing other bearish signals including:

21>7 - Bearish
Price<200
RSI<50 - Bearish momentum

Target 1.0454

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)

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