FX_IDC:NZDAUD   NEW ZEALAND DOLLAR / AUSTRALIAN DOLLAR
The picture in the NZDAUD 0.03% looks interesting and you should pack this currency pair on the watchlist.
Currently, NZDAUD is 0.03% in a 90 pips wide support area and after the rather strong down movements, you may speculate on a counter-movement. If the support zone breaks down sustainably and even a weekly close price is below 0.9050, the path is free until the next strong support.
In general, support and resistance are always very good spots to enter or exit trades. For this reason, it is immensely important to be well acquainted with these things and not to blindly pursue profit targets, which must overcome plenty of barriers.

Comments