Today AUD/NZD broke above the
descending channel after rejecting 200 and then 50-Moving Averages. Fibonacci
applied to the channel breakout point shows potential upside targets. While there
is small correction downб consider selling AUD/NZD at the current rate 1.0676
targeting either 23.6% (1.0708) or 0% Fibs (1.0745). Stop loss should be just
below the 61.8% Fibs support (1.0648).
Support: 1.0666, 1.0648
The material has been provided by InstaForex Company – www.instaforex.com
The post Technical analysis of AUD/NZD for October 25, 2016 appeared first on forex-analytics.press.