empty
 
 

09.04.202109:57 Ανάλυση και κριτικές Forex: AUDNZD reacting above ascending trendline support! Further bounce incoming!

Exchange Rates 09.04.2021 analysis

Price currently forming a triangle pattern, with price reacting above ascending trendline support. A bounce up above our 1st support at 1.08377 towards 1st resistance at 1.08553 could be possible. RSI testing support where price bounced in the past as well.

Trading Recommendation

Entry: 1.08377

Reason for Entry:

61.8% Fibonacci extension, ascending trendline support

Take Profit: 1.08553

Reason for Take Profit:

78.6% Fibonacci retracement, descending trendline resistance

Stop Loss: 1.08301

Reason for Stop Loss:

Graphical swing low

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Can't speak right now?
Ask your question in the chat.