AUDNZD – A Purely Technical Take

[kreslik.news]

The recent price action again reached a level not far from the several high points of 2015.

In this particular case, it almost equals the maximum of September 2015, where, as we can see on the below chart, there is a potential double top in formation, which still lacks confirmation obviously.

We believe however that this pair is in a good position for a short opening with a quite acceptable R/R, although this has not been the best entry point.

We did not enter into this consideration with any fundamental aspects. If anything, the recent evolution of GDP appears to be a bit more resilient in ... (read more)