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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 🙂

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.

One comment

  1. Price seems almost hit tp1 today, I think will not retrace to our po

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