Technical analysis of AUD/NZD for October 25, 2016
October 25, 2016 9:37 am
Today AUD/NZD broke above the descending channel after rejecting 200 and then 50-Moving Averages. Fibonacci applied to the channel breakout point shows potential upside targets. While there is small correction downб consider selling AUD/NZD at the current rate 1.0676 targeting either 23.6% (1.0708) or 0% Fibs (1.0745). Stop loss should be just below the 61.8% Fibs support (1.0648).
Support: 1.0666, 1.0648
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Today AUD/NZD broke above the
descending channel after rejecting 200 and then 50-Moving Averages. Fibonacci
applied to the channel breakout point shows potential upside targets. While there
is small correction downб consider selling AUD/NZD at the current rate 1.0676
targeting either 23.6% (1.0708) or 0% Fibs (1.0745). Stop loss should be just
below the 61.8% Fibs support (1.0648).
Support: 1.0666, 1.0648
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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