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| 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.
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| 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.
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