AUDNZD Testing Support, Prepare For A Bounce!
Buy above 1.0988.
Stop loss at 1.0906.
Take profit at 1.1162.
Reason for the trading strategy (technically):
AUDNZD is approaching its support at 1.0988 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 1.1162 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 7.27% where a corresponding bounce is expected.
Stop loss at 1.0906.
Take profit at 1.1162.
Reason for the trading strategy (technically):
AUDNZD is approaching its support at 1.0988 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 1.1162 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 7.27% where a corresponding bounce is expected.