I just noticed that AUDNZD rally was rejected today exactly at 0.618 extension of first long leg from 1.00* to 1.08* and pullback to 1.05* plus next round number 1.11. Previously there was no reaction to psychological 1.10 level.
After such a long and fast rally I expected 3D sell or other pattern and deep correction but it was distorted by latest RBNZ decision which sparked jump by 300+ pips.
Anyway, this pair is overbought, we're approaching very strong resistance @~1.13 so I'll sell short but just a two small positions in order to add more later at lower or higher levels. SL above resistance @1.13
After such a long and fast rally I expected 3D sell or other pattern and deep correction but it was distorted by latest RBNZ decision which sparked jump by 300+ pips.
Anyway, this pair is overbought, we're approaching very strong resistance @~1.13 so I'll sell short but just a two small positions in order to add more later at lower or higher levels. SL above resistance @1.13