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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/NZD approaching resistance, potential reversal!

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Price is approaching its resistance at 1.0597 where it could potentially reverse to its support at 1.0552.

Entry : 1.0597

Why it's good : horizontal swing high resistance, 61.8% Fibonacci extension,38.2% Fibonacci retracement

Stop Loss : 1.0648

Why it's good : 61.8% Fibonacci extension, 61.8% Fibonacci retracement

Take Profit : 1.0552

Why it's good : 61.8% Fibonacci retracement, horizontal pullback support

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The material has been provided by InstaForex Company - www.instaforex.com