AUD/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.03479, 1.04531, 1.05000.
Key Support Levels: 1.02905, 1.02251, 1.00458.
The price on the higher time frame is in a clear downward movement where the price recently retrace to a strong daily resistance level around the 1.03479 NZD. Sell pressure could be seen by the recent candlestick with long wick to the upside. Further downside is expected in the coming hours toward the next key support level.
AUD/NZD Medium-Term Trend: Bearish
On the lower time frame, the coin succeeded to break the wedge pattern to the downside with the help of the sellers found around the 50 % Fibonacci retracement level. a higher correction could be seen to the highlighted zone before a new wave to the downside toward the target profit.
Sell Limit Order @ 1.03266
TP 1 @ 1.02917
TP 2 @ 1.02251
Stop Loss @ 1.03400
Trade Safely 🙂