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AUDNZD: Channel Down top rejection.

Short
Australian Dollar / New Zealand Dollar (FX_IDC:AUDNZD)  
InvestingScope  
FX_IDC:AUDNZD   Australian Dollar / New Zealand Dollar
Trend Analysis Chart Patterns Technical Indicators AUDNZD Currencies audnzdtrading Forex forextrading aud NZD australiandollar newzealanddollar
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trendanalysis chartpattern indicator audnzd currencies audnzdtrading forex forextrading aud nzd australiandollar newzealanddollar
AUDNZD is marginally bullish on its 1D technical outlook (RSI = 58.715, MACD = 0.003, ADX = 36.182) as it started pulling back after the price got rejected at the top of the June-initiated Channel Down. All same RSI based pullbacks hit at least the 0.618 Fibonacci level and declined by at least -2.62%. Under those conditions, we are short on AUDNZD, targeting the closest of the two levels, the 0.618 Fib (TP = 1.07200).


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