FX:AUDNZD   Australian Dollar / New Zealand Dollar
The price has been in an ascending channel for the whole month and continued to for higher highs and higher lows. It has reached our support trend line and predicting the price to move to the upside. The price seems to have been holding around the 1.0740 level for past 2 days failing to break below that level. The fibonacci retracement also shows the price bouncing back from the 61.8% key level. Using a tight stop of just 30 pips seems conservative on this setup. A good 1:3.35 R:R trade. I would hope the price to ultimately reach 1.0886 level where I will be putting my TP2. Lets see how it plays out. Please feel free to share your thoughts on this. Would really appreciate it.

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