AUDNZD bouncing up perfectly, remain bullish
Buy above 1.0766. Stop loss at 1.0695. Take profit at 1.0896.
Reason for the trading strategy (technically):
After making its bullish exit of our long term descending resistance-turned-support line, price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) is seeing strong support above our ascending support line signalling that a further rise is expected.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/18-april-2017/
Reason for the trading strategy (technically):
After making its bullish exit of our long term descending resistance-turned-support line, price has started to bounce really nicely above our buying area. We remain bullish above 1.0766 major support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to 1.0896 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) is seeing strong support above our ascending support line signalling that a further rise is expected.
To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com...lysis/18-april-2017/
