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AUD/NZD extends downside after rejection at triangle top at 1.0874 in Wednesday's trade.
- Price action has fallen below the cloud and Stochs on daily charts have rolled over from overbought levels confirming further downside.
- RSI is at 44, biased lower, the line is on the verge of a bearish crossover on signal line.
- We have advised short in the pair at 1.0810 levels (http://www.econotimes.com/FxWirePro-AUD-NZD-rejected-at-trendline-resistance-at-10875-dips-into-cloud-to-confirm-downside-166390).
- All targets hit, we see scope for test of 1.0570 levels.
Recommendations: Book partial profits, lower trailing stops to 1.0725, Target 1.06/1.0570
