Monday, 13 April 2015

AUD/NZD Technical Analysis and Forex Strategy for Monday, April 13 2015

AUD/NZD Technical analysis and forex strategy
AUD/NZD


RECOMMENDATION : BUY TARGET 1.0340

SUMMARY:-

The major trend of AUD/NZD is bearish but from past few weeks prices are not sustaining at lower levels & consolidating near the important level of 1.0230. Prices are taking resistance of falling trendline & consolidating with strong positive bias. If the pair breaks the important level of 1.0230 at upside then we can expect it to test the level of 1.0300/1.0340.

INDICATORS:-

RSI is sustaining in buying territory supporting the upcoming bullish trend in the pair. MACD is also sustaining above the zero line, indicating the up trend in the market.

AUD/NZD Technical Analysis and Forex Strategy
Technical Chart

STRATEGY:- 

AUD/NZD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions.