Buy now above 1.0485. Stop loss at 1.0420. Take profit at 1.0575.
Reason for the trading strategy (technically) :
Price has bounced off a key support level at 1.0485 (graphical support + golden ratio Fibonacci retracement + Bollinger band support). We are bullish above this level to our first profit target at 1.0575 which is the recent graphical overlap resistance + Fibonacci retracement level.
Stochastics is also right above a key 4% support level and is displaying bullish divergence vs price.
Reason for the trading strategy (technically) :
Price has bounced off a key support level at 1.0485 (graphical support + golden ratio Fibonacci retracement + Bollinger band support). We are bullish above this level to our first profit target at 1.0575 which is the recent graphical overlap resistance + Fibonacci retracement level.
Stochastics is also right above a key 4% support level and is displaying bullish divergence vs price.
Exness - AUDNZD bullish above strong support
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