AUD/NZD COMING CLOSE TO TEST THE HEAD AND SHOULDERS NECKLINE

AUDNZD

The rate has broken the 6-year-long falling trendline resistance and is now climbing higher to test the inverse head and shoulders neckline around 1.1300.

I am looking for an upside break and retest to enter new long positions to potentially target the former major support/new resistance area around 1.2100.

A strong rejection lower from the neckline would indicate further range trading and a possible move to retest the former broken trendline before the next leg higher. - See more at: tradeitsimple.com/2017/02/audnzd-coming-close-to-test-head-and.html