AUD/NZD Potential Upward Movement

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 1^st 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.

Signal Idea:

Buy Limit Order @ 1.04577

TP 1 @ 1.05405

TP 2 @ 1.06042

Stop Loss @ 1.04220

Trade Safely 🙂