Technical analysis of AUD/NZD for November 08, 2016

The AUD/NZD pair has bounced off major support at 1.0477 (Fibonacci retracement, Fibonacci projection, horizontal support) where we expect a bounce to at least 1.0587.

The RSI (34) has bounced off major support at 33%.

Buy above 1.0477. Stop loss at 1.0430. Take profit at 1.0587.

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

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