AUD/NZD bounced right above our stop loss at 1.0655 and is rising towards our target. This is the updated view; as we can see the first resistance would be at 1.0755 before our target of 1.0800. We keep our stop loss at 1.0655 as it remains the fractal support (fibonacci retracement + graphical overlap), and we can see how the RSI has bounced off really well on our ascending support line.
Trading Recommendations:
Buy and add onto positions now
Stop loss remains at 1.0655
Take profit half at 1.0755
Second take profit at 1.0800
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
AUD/NZD bounced right above our stop loss at 1.0655 and is rising towards our target. This is the updated view; as we can see the first resistance would be at 1.0755 before our target of 1.0800. We keep our stop loss at 1.0655 as it remains the fractal support (fibonacci retracement + graphical overlap), and we can see how the RSI has bounced off really well on our ascending support line.
Trading Recommendations:
Buy and add onto positions now
Stop loss remains at 1.0655
Take profit half at 1.0755
Second take profit at 1.0800
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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