FX.co ★ AUD/NZD Trading Recommendation for 18th July 2016

AUD/NZD has triggered a strong bullish movement up towards the top of our channel again. It has crossed a key fibonacci retracement and fractal resistance at 1.0550 signalling a recovery is to come towards 1.1070. Our RSI (34) configuration also shows the RSI crossing above a descending resistance line and horizontal resistance at 44% giving us further conviction of a rise from here.

Trading Recommendations:

Buy now

Stop loss at 1.0550

Take profit at 1.1070