AUD/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.0809, 1.0822, 1.0850
Key Support Levels: 1.0781, 1.0750, 1.0721
The price on the daily time frame is trending to the upside where it posted higher highs and lows. the price succeeded to break the daily resistance (now support), and it retraced to it after being rejected at 1.0809 USD mark.
AUD/NZD Medium-Term Trend: Bullish
On the 4-hour time frame, the price is trading inside a bullish flag formation. We expect a lower correction to the area of confluence which is made of a strong support and the 61.80% Fibonacci retracement level. This will lead to a move higher in the same direction of the main trend.
Buy Limit Order @ 1.0782
TP 1 @ 1.0808
TP 2 @ 1.0822
Stop Loss @ 1.0769
Trade Safely 🙂