SamKent
Short

AUD/NZD 4 hour possible trend reversal

FX:AUDNZD   Australian Dollar / New Zealand Dollar
34 0 0
We're following this pair for a possibility of a significant momentum shift to the downside. We're looking at a confluence of significant long term resistance zone , coupled with bearish divergence on the RSI . We're looking for technical confirmation in the form of a breakout, breaking the ascending price trend-line or the 50 area RSI support zone should signal a short for us, aiming to hold for an extended move downwards, which in reality is reasonable since the fundamentals don't seem to support the pair breaking much higher.
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