FX:AUDNZD Australian Dollar/New Zealand Dollar
Earlier in the week I published a Point and Figure chart showing the potential for increasing my existing long on AUDNZD . The criteria stated were met overnight and I opened a new long this morning. The chart shows both longs, the first is at +300 pips and the second has pretty good risk reward. The stop will be activated on a daily close below the resistance of the most recent low. Evidence of a change of trend appears to be growing as we now have a higher low and a higher high in place. is not oversold and the is in positive territory and close to a crossover.