FX.co - AUD/NZD testing key support, potential to see a bounce!

2019-05-06T02:29:16

Relevance until2019-05-07

Price is testing its major support at 1.0543 where it could potentially bounce up to its resistance at 1.0604.

Entry : 1.0543

Why it's good : horizontal overlap support, 61.8% fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 1.0497

Why it's good : 61.8% fibonacci extension

Take Profit : 1.0604

Why it's good : 38.2% Fibonacci retracement, horizontal swing high resistance

AUD/NZD testing key support, potential to see a bounce!

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

Analytical expert

Dean Leo

FX.co ★ AUD/NZD testing key support, potential to see a bounce!