The pair has drawn a very large H&S pattern on the weekly chart, right at a major support that has been the multi decade low (not visible here on Tradingview). It is clear that this pair is going to go higher, the hard part is finding entries with an acceptable RR ratio.
Going on to the daily chart, the pair rallied strongly yesterday. I remember looking at the pair just before the big rally, thinking it could fly from here, but needed confirmation. The wide range candle yesterday is the strongest confirmation I could have asked for. I see today's retreat as normal, and believe the pair will continue its march higher.
It is tough to pin point a target, but 1.20 should be a major level where AUDNZD should go. Hopefully, we won't see any more whipsawing and my stop won't get filled
Going on to the daily chart, the pair rallied strongly yesterday. I remember looking at the pair just before the big rally, thinking it could fly from here, but needed confirmation. The wide range candle yesterday is the strongest confirmation I could have asked for. I see today's retreat as normal, and believe the pair will continue its march higher.
It is tough to pin point a target, but 1.20 should be a major level where AUDNZD should go. Hopefully, we won't see any more whipsawing and my stop won't get filled
