AUD/NZD Super-Dot Suggest Move Up Above 1.0400
|The AUD/NZD has formed a super-dot which suggests a retracement to the upside. The Super-Dot is a sign of a countertrend move.
1.0400 zone should provide a bounce to the AUD/NZD. The first target is 1.0438 followed by 1.0448 and 1.0480. The final target is 1.0534. Have in mind that the AUD/NZD is a slower mover during the London/New York session. For the final TP, traders should be patient as a trade might develop over next 5 working days. However, today I expect 1.0438 as it is a daily projection high.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.