The AUD/NZD pair fell again today, only to rebound and fall again. The shooting star-like formation suggests that attempts to rally have failed. This is a very bearish turn of events for this pair. Although a short isn’t suggested, a long isn’t either. Perhaps a day or two to settle down will be needed for it to show us where it wants to go as there are simply too many support areas to short this pair with any real conviction.
Originally posted here
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