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AUD/NZD - Trade Idea

0.0565/75 is a strong support zone for AUD/NZD, the pair has tested this region multiple times and edged higher. We would see weakness only on a decisive break below, test of 1.0496 (Oct 30 lows) then likely. Technicals …

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AUD/NZD - Trade Idea
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  • 0.0565/75 is a strong support zone for AUD/NZD, the pair has tested this region multiple times and edged higher.

  • We would see weakness only on a decisive break below, test of 1.0496 (Oct 30 lows) then likely.

  • Technicals indicate upside in the pair, Stochs and RSI on dailies point north,
Recommendation: Good to buy dips around 1.07 levels, SL: 1.0625, TP: 1.08/1.0840

Resistance Levels:

R1: 1.0709 (Session high)

R2: 1.0729 (Jan 6 high)

R3: 1.0750 (38.2 % Fib 1.1086 - 1.0539 fall)

Support Levels:

S1: 1.0629 (Jan 18 lows)

S2: 1.06 (Jan 15 low)

S3: 1.0565 (trendline)

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