Having tested the support around 1.2240 and signs of a looming bullish run on a possible correction from last weeks high may take place come close of market today. I've entered the trade relativity early @1.22501, with a stop placed @1.23500 just before resistance @1.236500 level. I may adjust target before close of market tomorrow.
Since opening of this week, the AUD/NZD pair has fallen some 150 pips. This decline has formed a promising reversal on the 8 hour at the 1.08600 support area.
