AUD/NZD – Trend continuation
Bearish: We are currently @ 1.0772 in a rare trend. We are looking for a continuation to the ATR Target @ 1.0692 with the overall target the day chart bottom @ 1.0580. Should see a bounce there for a corrective 4th wave. Watch the USDX for direction. The average daily true range (ATR) for the pair is 66 pips per day and it’s 90 day average is 74 pips per day. USDX is currently moving down.