AUDNZD long trade ideaPlan : wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
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Audnzdanalysis
AUDNZD is trading in ascending channelAUDNZD
This pair is trading in a Ascending channel which is a clear sign of bullish trend.
We can open long positions in AUDNZD at this current level 1.02600
Potential take profit will be 1.03600
Stop lose may placed below the resistance level 1.01900
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AUDNZD potential bounce!
AUDNZD expected to reverse up to 1st support at 1.04866 where it could potentially react and bounce to its resistance at 1st resistance at 1.05317.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.