AUDNZD Pivot and Short Term Trend Support

AUDNZD appears to be bouncing from the 1.06731 level where a short term trend support (red line) intersects with this week's Pivot point. This week's R2 is in the same relative zone as 50% retracement level of a long term range-defining weekly leg which has acted as the top of the pair's range since said weekly impulse leg was formed.

The original design of this trade has allowed for a tight stop loss, creating an R:R of 3.56

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