AUD/NZD - BREAK OR BOUNCE?

31 באוג׳ 2016

Double top formation showing strong resistance at around 1.07524. From the second high point on the double top there has been an MA downside crossover and a strong bearish movement down to the weekly trend line support which we are now sitting on. We could see a break of this trend line and see new 2016 lows or we could see a potential bounce from this trend line. I will be waiting to see a break of this trend line before entering a short order on this pair.