AUDNZD H&S Short

AUDNZD has risen from a double bottom at the 1.03 level and has tested the long term structural resistance at 1.12.

This is a ranging pair. They are closely related Commodity Currency's.

There appears to be a H&S pattern on the daily chart. Note also Momentum has reached OS zone for RSI twice now.

If there is a reversal , take a short

1. Sell on Stop - below the left shoulder swing low.

2. Stop Loss - above right shoulder.

3. Target - the prior swing structural low.

RR = 3