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AUD/NZD Potential Upward Movement

AUD/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.05573, 1.06024, 1.06500.

Key Support Levels: 1.04771, 1.04585, 1.04310.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish channel to the upside after posting a double bottom. The market is about to move to the upside in a new bullish impulsive wave toward the next key resistance level.

AUD/NZD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the market as well succeeded to break the bearish descending channel after finding buyers below the dotted line. a lower correction could be seen before a new impulsive wave toward the mentioned target profits below.

Signal Idea:

Buy Limit Order @ 1.04778

TP 1 @ 1.05573

TP 2 @ 1.06024

Stop Loss @ 1.04513

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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.

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