AUDNZD Long

56
This pair has been in a long term range between 1.02 and 1.12 , and so no surprise the 200W MAV is 1.07.

Price tested the high 1.02 handle last week , and was strongly rejected by the buyers ( aided by a surprise RBNZ cutting OCR by 50 basis points) .

With price placed to the high of a descending channel, considering an entry for a long.


Enter - Monthly Pivot

Stop - Below S1 Pivot , near channel low

Target - Start of the recent downtrending channel ( to complete and ABC pattern)

RR = 3



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