motleifaul
Short

This looks corrective now.

FX:AUDNZD   Australian Dollar / New Zealand Dollar
125 4 1
Rate broke out of the channel, tested the upper pitch of the fork and the pivot point as well and should now go to resume the downtrend. Target cn be around 1.1860.
Thank you. Now that we've hit 1.2 we may experience resistance at this level though. Big trends don't change on a dime. This pair is particularly hard to trade last days as both currencies are recently weak and move more or less in lockstep with one another. In my opinion, there'd be nothing wrong with going it short now - the problem is it's too early for that yet. All I can see are just buyers...
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Rate managed to overcome the pivot point. I closed the position with loss.
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Gratulation! You were right.
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Yeah. I've just closed my long position.
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