AUDNZD above ascending trendline support! Further rise incoming!
February 9, 2021 8:21 am
Price holding above ascending trendline support and moving average support. A further push up above 1st support at 1.06626 towards 1st resistance at 1.06906 can be expected.
Trading Recommendation
Entry: 1.06626
Reason for Entry:
38.2% Fibonacci retracement, ascending trendline support
Take Profit: 1.06906
Reason for Take Profit:
-61.8% and 50% Fibonacci retracement
Stop Loss: 1.06479
Reason for Stop Loss:
23.6% Fibonacci retracement
The material has been provided by InstaForex Company – www.instaforex.com
Price holding above ascending trendline support and moving average support. A further push up above 1st support at 1.06626 towards 1st resistance at 1.06906 can be expected.
Trading Recommendation
Entry: 1.06626
Reason for Entry:
38.2% Fibonacci retracement, ascending trendline support
Take Profit: 1.06906
Reason for Take Profit:
-61.8% and 50% Fibonacci retracement
Stop Loss: 1.06479
Reason for Stop Loss:
23.6% Fibonacci retracement
The material has been provided by InstaForex Company – www.instaforex.com
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