FX.co ★ AUDNZD testing 1st resistance, further drop expected!

Price is facing bearish pressure from our 1st resistance and trendline, where we could see a further drop towards 1st support at 1.0913 at the horizontal swing low. Ichimoku is also indicating more bearishness to come.

Trading Recommendation

Entry: 1.0959

Reason for Entry:

61.8% fib retracement, 100% fib extension

Take Profit :1.0913

Reason for Take Profit: Horizontal swing low

Stop Loss: 1.0988

Reason for Stop loss:

horizontal swing high