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AUD/NZD Bearish Domination
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The AUD/NZD is very bearish. I expect the continuational move towards lower levels of support.
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As the price is breaking below Q L4 and M L3, we can expect a bearish continuation move. Watch for M L5 and Q L5 as targets 1.0250-1.0200. The main point of this config is that the price has broken through Q L4 which is the 3-month breakout. It is also below M L4 which signifies for a double breakout point to the full TP.
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Cheers and safe trading,
Nenad
About the Author
Nenad Kerkezcontributor
M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.
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