FX:AUDNZD Australian Dollar/New Zealand Dollar
Price is trending down on this 12 hour time frame and higher time frames. Price has recently retraced to a previous support and longer term . Price also retraced to the 50% Fibonacci level and is within the 8 and 21 moving average. has formed indicating sellers have regained control over the past 12 hours and may be ready to continue the downtrend. Sell order entry may be placed half way of the candle with the target at next loner term . Reward is 4:1.
Trade closed manually: Price appears to be stalling and so I am taking profit. I am closing the trade manually, reward is 2:1