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AUD/NZD COMING CLOSE TO TEST THE HEAD AND SHOULDERS NECKLINE

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
TradeItSimple  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
AUDNZD Inverse Head and Shoulders invertedheadandshoulders neckline Head and Shoulders
7
0
audnzd inverseheadandshoulders invertedheadandshoulders neckline headandshoulders
AUDNZD

The rate has broken the 6-year-long falling trendline resistance and is now climbing higher to test the inverse head and shoulders neckline around 1.1300.

I am looking for an upside break and retest to enter new long positions to potentially target the former major support/new resistance area around 1.2100.

A strong rejection lower from the neckline would indicate further range trading and a possible move to retest the former broken trendline before the next leg higher. - See more at: www.tradeitsimple.co...o-test-head-and.html

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