Yesterday, we saw the potential of a double top for AUD/NZD in its 1H chart. AUD/NZD 1H Chart 8/10(click to enlarge)Double top:- As we can see in the 1H chart, this double top is complete after price held below 1.0743 twice and broke the neckline at 1.0682. - Along with the double top, the 1H RSI fell below 40, which reflects a loss of the prevailing bullish momentum heading into this week. - After the double top, price held above 1.0665 and pulled back. - So far price has stayed under 1.07, which shows that the market respects the double top. - I think if price stays under 1.0710, the bearish outlook would still be in play. Bearish targets:- Yesterday, we noted bearish targets from 1.0690 to 1.06, 1.0570, and 1.05.- The 1st target was hit. This target represents a successfully completed double top.- 1.06 is the next level where we might see support. - 1.0570 also offers a support/resistance pivot.- 1.05 is the next support pivot area below 1.0570. For me, 1.05 is an aggressive target. The 1.0570-1.06 area is a viable target for me.