AUD/NZD Analysis :
AUD/NZD was moving in an Uptrend by forming Higher Highs and Higher Lows in Daily Chart.
Recently, Market broken the bottom level of the range with sellers pressure.
Now, AUD/NZD have 2 probabilities to travel.
1) Market continues to travel down
2) Market retrace back, Re-test previous breakout level and starts to move down.
As per the technical analysis, market will travel in any of this 2 ways.
Please note : AUD/NZD is slow movement currency pair. if you are trading AUD/NZD, you must have more patience to hold your trade for long time. Don’t trade AUD/NZD pair if you are not familiar with long term trading.
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