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AUD/NZD DAILY

The exchange rate for Aud/Nzd has been stuck in a box range since the last year's December. As the price is getting near the top of the range we can see a long candle wicks signaling about selling pressure coming in at these levels

Also there is a divergence (price is making higher highs, but indicator showing lower highs) with the Stochastic indicator, which usually is an early reversal sign.

Tonight at 23:45 GMT New Zealand inflation data is coming out and tronger than expected CPI reading could boost bearish pressure and send exchange rate towards buttom of the range.

I am setting a standing order bellow yesterdays low at 1.0785 with a stop at 1.0890 and target 1.0545.