Hello Price Action Traders.
AUD/NZD is showing an interesting opportunity today. As you can clearly see, a Pin Bar has been formed pulling back on the 1.09440 area, a previous resistance now turned support. That could be a powerful price action signal for a short term trade if the price breaks the bar’s high. But be careful, the 200 SMA can hold as a resistance and may let the trend to continue downwards. Also keep in mind that there will be the RBNZ Interest Rate decision on Wednesday.
It’s all for today
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Luigi, professional trader member of Hereforex.com