AUD/NZD - continuation of bearish trend back to 1.0610

Last week price on AUD/NZD made a bullish pullback in an overall bearish trend. Over the past two days, bullish momentum has subsided, and has made way for bearish sentiment to return. Price has remained constrained within a descending daily trend.

Structure has remained consistent generating lower highs and lower lows on the daily timeframe. As a result, this gives us conviction that it is currently best to enter AUD/NZD short with the target of retesting the support at 1.0610.