Trade idea: Look to sell AUDNZD at 1.02550/65


I am short AUDNZD at 1.02550 on the back of the 1:1 (Purple) and 50 Fib resistance level, the stochastic is also reading extremely overbought and has just swung to the downside. I am keeping stops tight above 1.02900 with an initial profit target of 1.00200.

* A 1:1 refers to a current correction being equal in length to a prior correction


Reece Marini is an FX trader and Director of the an instant Forex rebate and Signal provider, if you would like to subscribe to our daily reports you can do so here its FREE

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