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The AUD/NZD is in a well defined bear trend, and we're looking for the downside breakout of recent consolidation, and the descending triangle formation. A break lower should ultimately send us towards the 1.3500-1.0300 handle, with 1.04700 area serving as future resistance in the case of a breakout-retest sequence.
Point of buy starting from 1.0460
1.06 target then 1:07, then 1.0880 and the recent break
We are heading for 1.1050 and then 1.13
The equivalent of 900 points
Stop loss 150 points below the point of entry