On the AUDNZD daily chart, we can see that the pair has formed a rectangle between 1.0360 and 1.0500. The pair was rejected from 200 SMA 1.0530 and is going lower for a possible retest of 1.0350-1.0400 zone. The daily close above 1.0530 is needed for the medium term downtrend reversal.
Happy trading! (click on the chart to enlarge it)
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