AUDNZD Setting Up For A Long Trade

AUDNZD is forming a solid triangle pattern on the hourly chart. If you back out and look at the daily chart you find this pair is in a long-term uptrend which will favor a move out of this triangle pattern to the upside. We will be looking for a close above the upper trendline before initiating our position.

Targets will be 1.13700 and the figure of 1.14000. Our stop will be place with a break of the lower trendline which at this time is approximately 90 Pips. If this pair closes below the lower trendline before we can initiate our position the signal will be null and void.