AUD/NZD Potential Upward Movement

AUD/NZD Long-Term Trend: Bullish

Key Resistance Levels: 1.0932, 1.0960, 1.1025

Key Support Levels: 1.0815, 1.0760, 1.0645

Daily Chart:

The price on the higher time frame it is posting higher lows and highs which shows that we are in a clear upward movement. Recently, the price formed a bullish channel pattern where a correction count has been posted.

AUD/NZD Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish flag formation which represents the correction count. A breakout to the upside is expected from this flag formation and then a re-test of the 1.0817 USD level might be seen before a move upward to the 1.0860 USD mark.

Signal Idea:

Buy Limit Order @ 1.0817

TP 1 @ 1.0860

TP 2 @ 1.0932

Stop Loss @ 1.0795

Trade Safely 🙂