FX:AUDNZD   Australian Dollar / New Zealand Dollar
AUD/NZD breaks above 200-DMA raising scope for further upside.
Upside finds stiff resistance at 1.0935 (major trendline resistance), break above to see further gains.
Technical indicators are bullish . RSI shows strength above 65, momentum studies are bullish .
Break above major trendline resistance at 1.0935 targets 61.8% Fib at 1.0983. Retrace and close below 200-DMA negates bullish bias.

Support levels - 1.0889 (50% Fib), 1.0861 (200-DMA), 1.0826 (5-DMA)
Resistance levels - 1.0935 ( trendline ), 1.0983 (61.8% Fib), 1.1072 (Jan 29 high)

Good to go long on breakout above 1.0935, SL: 1.0860, TP: 1.0980/ 1.1070

Comments

Saving this one - I think the move might lose some momentum at current resistance. If not then sure we have a flyer
Reply
Is it good to open deal so High? Because where can I set S/L and what R:R can I get?
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