AUDNZD has been trading in a channel for a while and the price action is coming to test the last wave of channel (E Wave). It is expected to move lower from channel resistance and break down below the channel. There is minor structure resistance zone around the same area. The idea is to go short with minor targets at FIB 38.2 and 61.8 levels and stops being above the channel line. However, one can stay in the trade with Trailing stops as the price action suggests to breakdown below the channel line.
This is my own analysis. Any suggestions are most welcomed.
Happy Trading!!
This is my own analysis. Any suggestions are most welcomed.
Happy Trading!!
