AUD/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.06042, 1.06434, 1.07224.
Key Support Levels: 1.04492, 1.03589, 1.03160.
Daily Time Frame:
The price on the higher time frame managed to break the bearish channel to the upside with the help of the double bottom. The market posted a 1st leg up and now we are at the end of the correction. We are about to see a new bullish impulsive wave in the coming hours.
AUD/NZD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the market is traded inside a bullish flag formation where the price found buyers around the 50% Fibonacci retracement level. a lower correction could be seen before a new bullish impulsive toward the target profits.
Buy Limit Order @ 1.04577
TP 1 @ 1.05405
TP 2 @ 1.06042
Stop Loss @ 1.04220
Trade Safely 🙂