AUDNZD: Turning into a sell as it approached the Channel's top.

AUDNZD is on a very aggressive short-term rally following the 1.05600 Low, turning overbought on its 1D technicals (RSI = 73.113, MACD = 0.006, ADX = 40.707). As the price approached R1 (1.108900), it is gradually turning into a sell opportunity, with the Channel Up Top being just over.

Consequently, we turn bearish ourselves, targeting the bottom of the Channel Up (TP = 1.062500).

Prior idea:


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