AUD/NZD right on major support, turn bullish. - Forex247

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Thursday, August 25, 2016

AUD/NZD right on major support, turn bullish.

Price is right on major support at 1.0400 (2x Fibonacci projection) which gives us confidence to see a rise to at least 1.0475 resistance (overlap resistance, Fibonacci retracement).

RSI (34) is also seeing major support and displays bullish divergence vs recent price movement.

analytics57beebeb30a9a.png

Buy above 1.0400. Stop loss is at 1.0375. Take profit is at 1.0475

The material has been provided by InstaForex Company - www.instaforex.com

from www.instaforex.com http://ift.tt/2blkxZB

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