Our AUD/NZD long is in decent shape, positive setup in the pair continues, bulls likely to test 1.1014, 61.8% of Sep/Nov fall.
- 10-DMA (at 1.0837) limits the downside, Tenkan and Kijun are positively aligned and the pair has set a new trend high, RSIs are biased up with room to run
- AUD/NZD approaching TP:1 levels (@1.0985 - book partial profits, could trail stops higher
- Immediate resistance is seen at 1.0983 (Session high Oct 13), while supports on the downside are located at 10-DMA (at 1.0837) and then at 1.0835 (Session low Nov 16)
Refer Old Call: http://www.fxwirepro.com/fxwire/popup.htm?id=729232
Resistance Levels:
R1: 1.0983 (Session high Oct 13)
R2: 1.0986 (Session high Oct 6)
R3: 1.1014 (61.8 % Fibo 1.1346-1.0496 fall)
Support Levels:
S1: 1.0921 (55-Day MA)
S2: 1.0837 (10-Day MA)
S3: 1.0835 (Session low Nov 16)