AUDNZD is testing strong harmonic resistance and looks poised to drop from here.
Sell below 1.0797. Stop loss at 1.0833. Take profit at 1.0706. Reason for the trading strategy (technically): Price is testing major resistance at 1.0797 (Fibonacci extension, bearish harmonic formation) and a strong reaction could occur at this level to push price down towards 1.0706 support (Fibonacci retracement, horizontal swing low support). Our stop loss is at 1.0833 which is just above a major swing high and Fibonacci retracement to give our trading setup ample breathing space. Stochastic (34,5,3) is seeing nice resistance at 93% where a corresponding drop could occur.