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AUD/NZD Potential Upward Movement

AUD/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.0740, 1.0758, 1.0798

Key Support Levels: 1.0718, 1.0698, 1.0677

Daily Chart:

The price on the higher time frame is in a clear upward movement where it posted higher highs and lows. Recently, it succeeded to enter back to be traded between two strong key levels (1.0720 & 1.0800 USD). Our expectation is to see a further move to the upside in the coming days.

AUD/NZD Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame, the pair violated the bullish flag structure and broke it to the upside after finding buyers around 78.60 % Fibonacci retracement level. A lower correction might be seen to the highlighted zone before a rally to the target profit.

Signal Idea:

Buy Limit Order @ 1.0733

TP 1 @ 1.0757

TP 2 @ 1.0798

Stop Loss @ 1.0721

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Do we still hold? Cause trade hasn’t been placed yet

  2. Hello
    I’m Tebogo form Botswana Southern Africa. I’ve been following you from your YouTube channel and I’ve leant a lot from you🙏. So now I would like to set the buy limit you have posted and I would like to know if I can do it now or it’s suppose to be set in the next day’s.
    Thanks

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