AUD/NZD Potential Upward Movement

AUD/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.0932, 1.0960, 1.1028

Key Support Levels: 1.0880, 1.0820, 1.0750

Daily Chart:

The price on the higher time frame is in a clear uptrend where it is trading inside a bullish channel formation. A correction count has been posted toward the strong support that coincide with the lower end of the channel.

AUD/NZD Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price succeeded to break the bullish flag formation to the upside. We expect a lower correction toward the area of confluence that is made of the support & the 61.80% Fibonacci retracement level. this will lead to a move upward to continue in the direction of the main trend.

Signal Idea:

Buy Limit Order @ 1.0820

TP 1 @ 1.0872

TP 2 @ 1.0932

Stop Loss @ 1.0795

Trade Safely 🙂