Ozzie Kiwi looks to be heading due south after a rejection of the key monthly resistance level of 1.05000, a rejection of 100 EMA and trend line. It also made a lower low and a lower high.
Look for a retest of the 1.05000 level on the lower time frames to pin point entry.
Target: 1.04000 (100 pips)
Stop: 1.05800 (80 pips, above the previous high and daily resistance level of 1.05500)
Look for a retest of the 1.05000 level on the lower time frames to pin point entry.
Target: 1.04000 (100 pips)
Stop: 1.05800 (80 pips, above the previous high and daily resistance level of 1.05500)
Comment:
Trade completed in 2 days for a 100 pip profit