FX:AUDNZD Australian Dollar/New Zealand Dollar
AUDNZD has found a level of resistance around the 1.09 psychological level that is also home to the of the decline from October 2013 to January 2014. If we see price continue to rally this could offer us a good risk/reward entry with a stop at 1.0950 as we look for the overall downtrend to continue. Initial target at 1.0675 would give us a 1:2 risk/reward ratio. A break of 1.0630 can take price down to 1.05.