AUD/NZD: A full-wave correction may make the pair more bullish


AUD/NZD has been bullish on the intraday charts today. The price after finding a support 1.0695 has gone towards yesterday's highest high. On its way, it made a breakout at the level of 1.0741, which may play a significant role if the price comes back to the level to have a correction. If the level produces an H1 bullish engulfing candle closing above the level of 1.0755, the price may go towards the upside with good buying pressure. The next level of resistance may come at 1.0805.

Trade Summary:

Entry: Above 1.0755

Stop Loss: Below 1.0741

Take Profit 1: 1.0805

Take Profit 2: 1.0880

Please Note:

1. The price is to come back up to the level of 1.0741 to complete the correction.

2. It is to produce an H1 bullish engulfing candle

3. The candle is to close above the level of 1.0755



100% Anonymous Trading on EagleFX - Trade NOW!

Risk Warning: CFD and Spot Forex trading both come with a high degree of risk. You must be prepared to sustain a total loss of any funds deposited with us, as well as any additional losses, charges, or other costs we incur in recovering any payment from you. Given the possibility of losing more than your entire investment, speculation in certain investments should only be conducted with risk capital funds that if lost will not significantly affect your personal or institution’s financial well-being. Before deciding to trade the products offered by us, you should carefully consider your objectives, financial situation, needs and level of experience. You should also be aware of all the risks associated with trading on margin.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD defends gains above 1.1300 amid broad dollar recovery

EUR/USD defends gains above 1.1300 amid a broad-based US dollar recovery. The shared currency remains at the mercy of the broader market sentiment as the data docket is light on Monday. COVID-19 stats in focus. 


GBP/USD batting to extend gains beyond 1.2600

Risk-on mood limits the dollar’s bullish potential. GBP/USD bounces from daily lows, but Brexit concerns weigh on Sterling. BOE Governor Bailey's speech awaited.


XAU/USD inches closer to multi-year highs, trades around $1,810

The XAU/USD pair registered its highest weekly close since September of 2011 at $1,799 on Friday and continued to push higher on Monday.

Gold News

Dominance war to push Ethereum to $270

The Altcoin segment is still in full swing while the crypto board leaders, Bitcoin and Ethereum, remain stuck at the same levels as in recent weeks. The dispute for market share, or dominance in technical terms, remains at a point of maximum tension. 

Read more

WTI breaches $40 mark as talks of OPEC+ output cuts easing weigh

WTI (August futures on Nymex) extends Friday’s sell-off into the European trading this Monday, following a brief consolidation seen above $40 mark earlier in the Asian session.

Oil News

Forex Majors