AUDNZD Two levels to sell for the long-term.

11 jul

The AUDNZD pair gave us a strong sell-and-buy double signal last time (June 03, see chart below):

However it did manage to invalidate the Symmetrical Resistance Zone sell bias and even broke yesterday above Resistance 2 (1.108600), which has been holding since February 20 2023.

In order to make sense of this move, it is best to view it on the wider 1W time-frame. As long as the 1W candle is closing below Resistance 2, then the action remains a sell, targeting 1.08000 (0.236 Fibonacci level).

If the 1W candle closes above Resistance 2, we will take the loss immediately and sell at the top of the Channel Up with the same Target (1.08000).

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