AUDNZD approaching support, potential rise!
Updated
AUDNZD broke out of our short term descending resistance-turned-support line and is approaching our first support at 1.0554 (horizontal overlap support). A strong bounce might occur above this level, pushing price up to our major resistance at 1.0605 (horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure, in line with our bullish bias.
RSI (89) is also seeing a bullish exit, a good precursor for potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bullish exit, a good precursor for potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
Woohooo! Price rallied up perfectly, hope you guys manage to get on this trade!
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