2016-03-16_17-47-48AUDNZD

Hello everyone,

Today we are waiting for the FOMC minutes which will most likely have a great impact on the us pairs.

Therefore since I am making this analysis before the anouncement I chose non related pairs where less volatility / impact might be expected.

The currency pair presented is the audnzd on the daily chart.

I like simple trading and wait for price to come to my area of interest which it did today.

Price is at resistance displayed on the chart with the area 1.12700 to 1.13430.

The day has not finished yet and the trade recommendation is to go short IF the day closes with a doji and tomorrows candle is a bearish one.

The stop might be placed over resistance with a target area of 1.09000 to 1.09680.

Please take note that this trade would be a counter trade one since you have been provided with a higher high.

There might perhaps be less downside momentum to be expected but if you go short then this would be an area of interest.

BEST OF PIPS

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