AUD/NZD has broken "Symmetric Triangle" pattern, raising scope for further downside. Technicals support further weakness, drag till 1.0370 (Jun 2017 low) now likely. Stay short on upticks around 1.05, SL: 1.0555, TP: 1.0370
Comment
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Hits new multi-month lows. Bias bearish on weekly charts.
Dear sir,
We have double bottom on daily chart around 1.047 .So shorting the pair is not prefred now . It is over sold . 4 hour chart started to find the low .
6 days of failing down with no mercy
The pair closed outside lower Bollinger bands for the third day
So there must be a big rebound next week. Also good news from China in Sunday May make the AN start next week with an up two
We have double bottom on daily chart around 1.047 .So shorting the pair is not prefred now . It is over sold . 4 hour chart started to find the low .
6 days of failing down with no mercy
The pair closed outside lower Bollinger bands for the third day
So there must be a big rebound next week. Also good news from China in Sunday May make the AN start next week with an up two
Best regards
Hany