AUDNZD has been in a downtrend over the past several days. The initial short trade was triggered by the pin-bar that was unable to close past the highlighted area of . Since then, price has gone forcefully down until yesterday where it formed a candle with long wicks in both directions. This candle formed in a previous area of that last occurred in 01/10/17 to 01/23/17. Price has today broken down past this area of support, signalling for me a continuation of the downtrend.
My Stop Loss is a few pips above the most recent at 1.05635 and my targets are throughout the next area of , with the final extended target at the horizontal key level I have drawn where price last reversed on 01/31/17. Target 1: 1.04500 T2: 1.04050 T3: 1.03500