Day three: our AUD/NZD trade idea

AUD/NZD is now down around 50 pips from my potential entry point and is looking to re-establish itself with the longer-term trend.

For this to fully materialise we will need to see a break and close below the December 18 low of 1.0734, thus printing a lower low.

This will also co-inside with the MACD breaking below the signal line and from here I will look at shorting another short contract.

A break of this level will also suggest moving stops to breakeven to lock in profits.

There is no data on the cards today, with the big event risk coming out tomorrow with retail sales due.

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