AUD/NZD is coming up against strong resistance in the 1.3020-1.3060 region which is the top of its triangle pattern and horizontal resistance. The RSI is also in the oversold territory on the daily charts. We are going short this pair at 1.3025 with stops on a daily close above 1.3070 and targets of 1.280.
Good luck trading.
5/5 stars (1 votes)
We are still short AUD/NZD. The pair did not manage to close above the indicated level (1.3070).
Booking profits on short AUD/NZd at 1.2940 ahead of the weekend. Profits = 85 pips