FX.co - AUD/NZD approaching resistance, potential reversal!

2019-05-23T02:22:37

Relevance until2019-05-24

Price is approaching its resistance at 1.0597 where it could potentially reverse to its support at 1.0552.

Entry : 1.0597

Why it's good : horizontal swing high resistance, 61.8% Fibonacci extension,38.2% Fibonacci retracement

Stop Loss : 1.0648

Why it's good : 61.8% Fibonacci extension, 61.8% Fibonacci retracement

Take Profit : 1.0552

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

AUD/NZD approaching resistance, potential reversal!

*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 resistance, potential reversal!