AUDNZD is breaking below the terminal rising wedge
AUDNZD is rejected by the strong upside resistance 1.08300. A daily close above this level is required to invalidate downside extension. We are seeing a break below the terminal rising wedge 1.0700 level for a bigger upside swing correction and a possible downside extension a confirmed break below 1.0700 is valid for a high probability of short entry.
Note – Look for the short trade entries with the stop loss above 1.0800.
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Rising wedge breakout is a good signal for reversal
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