AUD/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.04310, 1.04856, 1.05482.
Key Support Levels: 1.03505, 1.03019, 1.03000.
The price on the higher time frame found support around the 1.03505 NZD mark and posted an engulfing bullish pattern showing that the market most probably will reverse. This will lead to a move higher toward the next key resistance level located at 1.04300 NZD mark.
AUD/NZD Medium-Term Trend: Bullish
On the lower time frame, the price found buyers around the 50 % Fibonacci retracement level after managing to break the bullish flag to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profits.
Buy Limit Order @ 1.03767
TP 1 @ 1.04229
TP 2 @ 1.04856
Stop Loss @ 1.03537
Trade Safely 🙂