AUDNZD s approaching our first support at 1.06000 (61.8% Fibonacci retracement , 100% Fibonacci extension ). A strong bounce might occur at this level, pushing price up to our major resistance at 1.07069 (100% Fibonacci retracement , Horizontal pullback resistance).
RSI is also approaching its major support at 40%, in line with the potential downside before price reaches our buy entry. A bounce off this level might be a good precursor of a rise in price.
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RSI is also approaching its major support at 40%, in line with the potential downside before price reaches our buy entry. A bounce off this level might be a good precursor of a rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Please add a comment... Positive feedback and constructive criticism are important to authors and the community.