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AUDNZD Testing the 3 years’ trendline support Update: TP1 Reached
AUDNZD Testing the 3 years’s trendline support
Technical Overview and Trade Idea
AUDNZD is trading 1.06260 as of writing. AUD employement data will be released early in the morning. The price is testing the asecding trendline of 3 years. A clear buying opportunity as follows:
Target 1: 1.07100 / TP 1 Reached
Target 2: 1.07800
You can view the setup: AUDNZD Trendline Support
Update: Nov 16th
The first target reached. On the H1 Chart, price moved above SMA 100 and tested MM 6/8. It is in the correction process of latest 100 pips . We have 2 fresh long entry levels. the first one is 1.06810 MM 4/8 and EMA 5 of daily chart. If the price breaks below, 1.06630 MM 3/ can be used as a long entry.
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