Another setup on the AUD here. Please read through the fundamentals in the AUDNZD set up for information as to why we are shorting the AUD.
Major double bottom on the 4hour time frame. We will look to buy this up to the next resistance zone at 1.7000.
Trade setup: BUY – Market execution (current rate 1.6780), stop loss 1.6700 and take profit 1.7000.
Stop loss: 80 pips
Take profit: 220 pips