AUDNZD Head-and-Shoulder Trade

AUDNZD H1

In this pair, I have traded the channel action and booked my short for +55pips. Details [here].

A perfect head-and-shoulder pattern with a sloppy neckline. 


Left shoulder is in making currently. Neckline comes at .12700.

Currently 200EMA is providing good support. A break of it exposes the neckline. A break below the neckline, brings focus to 1.2650 and 1.2600 areas.