AUD/NZD is currently in an uptrend, with the trendline acting as a strong support level. Currently, the price has pulled back to this support level, and based on technical analysis, we believe that it will likely bounce upwards from here. Our target for this upward movement is around 1.1060.
This setup suggests a good buying opportunity, given that the support holds and the uptrend continues. If the price action aligns, we could see a strong push toward our target, as buyers step in at this support level.
This setup suggests a good buying opportunity, given that the support holds and the uptrend continues. If the price action aligns, we could see a strong push toward our target, as buyers step in at this support level.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.