DV_FX

weekly Analysis of AUDNZD. Taking a closer look at each currency index charts, the Kiwi (Australian Dollar) looks bearish while New zealand dollar is likely to gain strength across board. looking at the chart above, there is a cross over of price below the 10 EMA, price is also hovering around daily resistance area around 1.06605. We also see a Bearish Divergence forming.  To go Bearish, we wait for a breakout and retest of the rising trendline for a sell confirmation. Targets can be placed around the subsequent support areas or minor take profits. Final target is around 1.04360. A breakout above the rising channel and creation of a new high will invalidate he setup.   

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