AUD/NZD Analysis (2H Timeframe)
The AUD/NZD pair is trading within a clear ascending channel, signaling bullish momentum. The price is approaching the upper boundary of the channel, where further upside movement could be anticipated.
Key points to consider:
The pair has maintained a consistent upward trend, respecting the channel boundaries.
Current resistance is near 1.1125, with the next target at 1.1166, aligning with the upper channel limit.
Immediate support lies at 1.1066, just below the lower range of the current price action.
Trading Plan:
A buy setup looks favorable, targeting 1.1166, while keeping the stop-loss just below 1.1066 for proper risk management.
Monitor for signs of rejection near the resistance zone for potential profit-taking or a reversal opportunity.
"Following the trend within the channel can often yield steady gains, provided risk is well managed."
Key points to consider:
The pair has maintained a consistent upward trend, respecting the channel boundaries.
Current resistance is near 1.1125, with the next target at 1.1166, aligning with the upper channel limit.
Immediate support lies at 1.1066, just below the lower range of the current price action.
Trading Plan:
A buy setup looks favorable, targeting 1.1166, while keeping the stop-loss just below 1.1066 for proper risk management.
Monitor for signs of rejection near the resistance zone for potential profit-taking or a reversal opportunity.
"Following the trend within the channel can often yield steady gains, provided risk is well managed."
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