A perfect sell opportunity is forming in AUDNZD as the pair just reached a great resistance zone on the daily chart. The bearish divergence is confirming the end of this bullish move. So at this point we should be focusing on sells only. How?

AUDNZD D1 Chart

AUDNZD H4 Chart

All confirmations are present on the H4 chart as well. We got a false break at the top, divergence, now we want to see the price breaking below the trend line and the last low. Once that happens, look for small correction up and sell. Stop loss should be placed above last high. Target 1- 1.0585, Target 2 – until opposite divergence occurs or 1.0485.

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Yours,

Vladimir

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