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Pika7993

Top channel rejection for a sell off

Short
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
Pika7993  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Chart Patterns Technical Indicators Moving Average Convergence / Divergence (MACD) Relative Strength Index (RSI) AUDNZD support Support and Resistance pivot
4
2
trendanalysis chartpattern indicator macd relativestrengthindex audnzd support supportandresistance pivot
Presented on the 1 hr chart we see a potential pivot in play with top resistance rejection.

Indicators are set to confirm with a full MACD/SIGNAL cross just above the 0 line. This will confirm a sell off in play.

Watch for a pivot at 1.07400. With a MACD/SIGNAL cross through the 0 line the trend may truck right through our pivot zone.

Take profit at current channel bottom support at 1.07200. Stop loss above current resistance with a full close out above.

Please comment with thoughts and ideas. Thank you.
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