AUDNZD Potential Long Opportunity !!!
AUDNZD retracing into key horizontal and fib support levels, with what looks like a dead cat @ 0.382 and Feb high.
50 and 100 EMAs on the daily could also act as support in between the 0.383 and 0.5.
Previous horizontal supports matching with the 0.5 and 0.618 fibs.
Obviously the 0.382 ,Feb high could still hold and waiting for the 0.5, 0.618 level could leave us missing out on a potential continuation to the diagonal resistance so its best to monitor the chart to see how the bulls react,
waiting for any signs of a reversal or the bears slowing down in these areas.
Stop loss under 0.618
Targets will be Diagonal resistance or just under at Aprils highs
50 and 100 EMAs on the daily could also act as support in between the 0.383 and 0.5.
Previous horizontal supports matching with the 0.5 and 0.618 fibs.
Obviously the 0.382 ,Feb high could still hold and waiting for the 0.5, 0.618 level could leave us missing out on a potential continuation to the diagonal resistance so its best to monitor the chart to see how the bulls react,
waiting for any signs of a reversal or the bears slowing down in these areas.
Stop loss under 0.618
Targets will be Diagonal resistance or just under at Aprils highs
Penafian
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