AUD/NZD bounced right above our stop loss at 1.0655 and is rising towards our target. This is the updated view; as we can see the first resistance would be at 1.0755 before our target of 1.0800. We keep our stop loss at 1.0655 as it remains the fractal support (fibonacci retracement + graphical overlap), and we can see how the RSI has bounced off really well on our ascending support line.

analytics5795b47aeed70.png

Trading Recommendations:

Buy and add onto positions now

Stop loss remains at 1.0655

Take profit half at 1.0755

Second take profit at 1.0800

The material has been provided by InstaForex Company – www.instaforex.com

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