FX:AUDNZD   Australian Dollar / New Zealand Dollar
SELL
Nov 09
Trade closed: target reached: TARGET 1 REACHED

Comments

Nice idea on AUDNZD and there may be bearish bias as you have identified. For our set up, we have identified the key resistance and support levels. The resistance that we have identified is at 1.0761, which is just above the resistance level that you have found. There is a 61.8% Fibonacci extension and 38.2% Fibonacci retracement at this level. RSI is approaching its resistance where a corresponding reversal could occur. If a reversal does occur, we may want to look at the 1.0714 support level. It is a horizontal swing low support. Looking forward to seeing how things develop.

Please have a look at our idea and share with us what you think.



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