- AUD/NZD call (http://www.econotimes.com/AUD-NZD-Trade-Idea-145280) has achieved both targets, book full profits.
- Strong resistance is seen at 1.0876 which is both trendline resistance and 61.8% Fib of 1.1087 to 1.0539 fall.
- The pair has been trading a falling triangle pattern, and is approaching resistance by triangle top at 1.0876.
- Price action was rejected at highs by 1.0840, further strength can be seen only on breaks above 1.0876.
- On the flip-side, close below 50 DMA at 1.0780 can take the pair lower to 1.0630 and then 1.0580 levels.
The material has been provided by InstaForex Company – www.instaforex.com