FX:AUDNZD   Australian Dollar/New Zealand Dollar
484 0 12
AUD/NZD - 4h Chart - Bat Pattern

With a D leg completion of the Bat Pattern at 1.0785, this area is also on daily structure support which should hold and act as a solid reversal zone.

Taking a Fibonacci of the C to D leg gives us a .382 Target 1 at 1.1016 structure resistance , which is a perfect area to take of half of our position and move stops to break even.

On the RSI 1h and 4h time frames, we have bullish divergence giving us more confluence to look long.

- Stop Loss below X
- Target 1 at . 382 Retracement ( Once Target 1 is achieved, half of position taken off and SL moved to break even )
- Target 2 at . 618 Retracement

Good luck.
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