Greetings traders! AUDNZD
has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart
, there is strong support from a parallel channel
. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base of the channel, a tight stop may be placed below the pins. If price makes new lows, it is time to re-evaluate. If not, it may be possible to catch a larger move toward the missed monthly pivot
for June which would mean major pippage and a trade with great R/R.