AUD/NZD Due For a Reversal

23 Haz 2015

AUD/NZD is trading outside of its weekly/monthly trend line (resistance level) with a bearish pin bar found at the peak of the bull trend, indicating a highly probable move lower in the short term. Prices also rejecting the weekly 76% Fib level around the 1.12600 area adding conviction to the bear signals with an expected downside target around 1.10300.

Stop - 1.12953
Target - 1.10300