TRADE: AUDNZD

By monitoring 3 crosses you can start to build up a game plan
AUDNZD has been forming a pennant/flag for a few weeks now which once confirmed is a continuation pattern.
For extra confluences we can look at other AUD/NZD crosses…
– GBPAUD has hit a resistance level –  if this hold then this confirms weakness on GBP and strength to AUD
– GBPNZD I’m still long on this after taking partial profit to let the trade ride. However a retracement is likely after an extended daily bar which also hints at GBP weakness (short-term) but overall NZD is weaker than AUD and NZD. This provides a clue to take AUDNZD long if it confirms the pennant.

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