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mattmach
Jan 16, 2019 9:05 AM

AudNzd Short

Australian Dollar/New Zealand DollarFXCM

Description

AudNzd. A long term uptrend has been broken on the weekly chart. Price has broken to the downside, retraced and retested the weekly trend line. Price closed as a shooting star on the weekly chart and also hit some key Fibonacci retracement zones. On the daily I would expect to see a push slightly higher to test the 1.0600 area once again before price potentially stalling, then moving back to the downside. I could see a move of around 200/300 pips to the downside.
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