Bearish movement coming on AUDNZD by ThinkingAntsOk
Australian Dollar/New Zealand DollarFXCM
Description
⋅ Main items we can see on the chart:
a) The price has reversed from a major resistance zone
b) After the initial movement and the breakout of the Ascending trendline a Corrective structure was formed
c) Currently, we can see a corrective Structure composed by an ABC pattern (also we can expect an ABCDE Pattern)
d) If the corrective Structure is broken with a bearish movement we expect a continuation of it towards the next Support Zone
DAILY CHART: