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.
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