FX.co - AUD/NZD approaching key resistance where we could see a reversal occur!

2019-05-07T01:55:46

Relevance until2019-05-08

Price is approaching a key resistance at 1.0620 where it could potentially reverse to its support at 1.0576.

Entry : 1.0620

Why it's good : horizontal pullback support, 61.8% fibonacci extension, 50% Fibonacci retracement

Stop Loss : 1.0646

Why it's good : 61.8% fibonacci retracement, horizontal swing high resistance

Take Profit : 1.0576

Why it's good : 50% Fibonacci retracement, horizontal swing low support

AUD/NZD approaching key resistance where we could see a reversal occur!

*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 approaching key resistance where we could see a reversal occur!