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FxWirePro: AUD/NZD edges above daily cloud, break of 1.0840 could see test of 1.09 levels

Our previous call on AUD/NZD has hit all targets. We advise booking partial profits as there is scope for further gains. RSI is at 57 and has further room to run, while daily Stochs point higher. The pair finds strong re…

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FxWirePro: AUD/NZD edges above daily cloud, break of 1.0840 could see test of 1.09 levels
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Our previous call on AUD/NZD has hit all targets.

  • We advise booking partial profits as there is scope for further gains.
     
  • RSI is at 57 and has further room to run, while daily Stochs point higher.
     
  • The pair finds strong resistance at 1.0840 levels, break above could see test of 1.09 (falling trendline).
     
  • On the downside, cloud top at 1.0792 is immediate support ahead of 1.0752 (Jan 26th lows).
     

Recommendation: Book partial profits, raise trailing stops to 1.08, target 1.09

 

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