FX.co ★ AUD/NZD Approaching Support, Prepare For A Bounce

AUD/NZD is approaching its support at 1.0781 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where we expect price to bounce and rise to its resistance at 1.0897 (61.8% Fibonacci extension, horizontal overlap resistance).

Stochastic (55, 5, 3) is approaching its support at 5.9% where a corresponding bounce is expected.

Buy above 1.0781. Stop loss 1.0715. Take profit at 1.0897.