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AUD/NZD

AUD/NZD

Thomas Long, Course Instructor

This 4-hour chart shows a move up off of the low towards a trendline that could offer that resistance.

audnzd 052610

At the same time the Slow Stochastics is moving up above 80 into overbought territory. Traders can either sell a test of that trendline, sell on the Slow Stochastics crossover or look to the hourly chart for a move down through a support level to sell. Protective stops should be placed above this high with targets to take profit set at twice that risk.
 

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