AUDNZD breakout from closing triangle + reversal zone 1hr 1month

5 Feb 2016

Price range is getting tighter in the reversal zone, which means a breakout is likely to occur. The trade is long bias because of the moving averages above the PRZ; I expect a bounce and touch of the 8 and 20 day MA. If the price goes south past the triangle we can expect a move to at least 1.06150 over the next couple sessions.