AUDNZD approaching support, potential bounce!
Price is approaching our first support at 1.0775 (horizontal overlap support, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.0953 (horizontal swing high resistance, 61.8% Fibonacci extension). A breakout above our intermediate resistance at 1.0899 (horizontal swing high resistance, 78.6% Fibonacci retracement) might provide the bullish acceleration to our major resistance target.
RSI (89) is seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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