AUDNZD BEARISH CONTINUATION SETUP - Wave 5.
Hi Traders,
The AUDNZD has broken out of the bullish ABC zigzag corrective chart pattern within a larger downtrend.
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The pullback which retested the broken descending trend line, 38.2 Fib and resistance level is most likely part of Minor Wave 4 "blue," which could indicate a continuation of the downtrend.
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The first target is support level @ 1.0378 and main target is Fibonacci Extension 0.618 @ 1.0244.
Best Trading,
Veejahbee.
The AUDNZD has broken out of the bullish ABC zigzag corrective chart pattern within a larger downtrend.
.
The pullback which retested the broken descending trend line, 38.2 Fib and resistance level is most likely part of Minor Wave 4 "blue," which could indicate a continuation of the downtrend.
.
The first target is support level @ 1.0378 and main target is Fibonacci Extension 0.618 @ 1.0244.
Best Trading,
Veejahbee.