AUDNZD 131003

The AUDNZD is sure one frustrating pair. Knocked out of my long at b/e. Now looking to reassess as we just got off from ADP non-farm and ECB and Fed speech. Gosh... reeling from all the volatility.

A look at AUDNZD charts.

 AUDNZD on the daily respecting 1.1400 as the resistance and seems to be putting in a range between 1.14 and 1.12.

On the H4, AUDNZD is testing some support from the trendline extended from the top. 

 H4, AUDNZD is now forming a possible flag, extension to 1.1140 could possibly knock out all the longs at 1.1200.

Weekly, AUDNZD still under the long term trendline and held up by 78.6 retracement of very long term up move.
A possible fake out and extension to the downside of weekly S2 at 1.1125 is possible to flush and provide a V shape bottom.

Strategy, side lined till 1.12 or 1.1140 - 1.1125.