Aud/Nzd - staying Short

I was so focused on the Range mentioned previously on the Aud/Nzd price action that I failed to see the break & re-test of the Long-term Trend Support on the Daily Chart...

I have since switched my bias & am Short from 1.2631

Aud/Nzd Daily

Technicals
Though I do not have a confidant Elliott Wave Count for this pair, I am taking this Trade based on the following...

- Bearish Aussie Dollar Outlook
- The Break of Long-term Trend Support now turned Resistance
- RSI failing to move above 40
- Price respecting the Confluence of Resistance near the 1.27 as shown in chart


In the meantime, I Will still be looking for a confidant Wave Count for this pair.

New Trade - Aud/Nzd

Long established @ 1.268
SL to be triggered on a Daily Close below 1.2650


the range mentioned earlier this week could still be in play
(see previous charts)

Breached but Not Broken...

time to make a decision on that set-up from last week...
if shorting, wait for a bounce

Aud/Nzd Weekly
Multi Year Trend Support breached but not broken.

Daily RSI is bouncing from OS.
Best to watch for confirmation on a bounce towards Resistance Zone

Risk Barometer Chart Update

a look at Crude Oil & the S&P 500, my Risk Barometers

Crude Oil has been extremely active this week...
Price Action approaching Confluence Zone around the 90.00 Figure.

a bounce from current vicinity (or 90.00) could signal that the abc Correction of the Larger DownTrend is still in progress. If a bounce does materialize, expect a re-test of the 100.00 Figure or at least the falling trend line (pink trend line in chart)

WTI Crude (Daily Chart)

On the other hand, the S&P500 is still looking very Bullish.
Price Action currently consolidating at previous Trend Resistance now turned Support (1,460)

a breakout targets the 1,500 figure and a breakdown could find support first @ 1,440 then 1,420, as shown in chart below.

S&P 500 (Daily Chart)