Going long here because there are a confluence of 4 factors as follows:
1) Stalling at 78.6 Fib
2) Oversold on 1hr, 4hr and daily time frames
3) support ( from Sep 2016)
4) Also 1.0470 area has held ad horizontal sup
Normally I would like to see a price action confirmation i.e a 1hr or 4hr candle, but risk/reward here is very good.
I am long here at 1.0470/1.0475 with stops below low of the day means risking 20/30 pips.
If wrong AUDNZD could fall as far as 1.0325
PS; I don't consider AUDNZD at this stage but the set up and RW ratio makes this trade worth taking for me