Break of Key Resistance at 1.09:
AUD/NZD has successfully broken through the key resistance level at 1.09, which previously acted as a strong barrier. This breakout indicates potential further upside momentum, turning the 1.09 level into a new support.
Technical Indicators:
RSI is confirming the breakout, moving out of neutral territory, which reinforces the likelihood of a continued upward trend.
Moving Averages:
The 21 EMA has crossed above.
Risk Management:
Since the previous resistance at 1.085 has been broken, consider placing the stop loss just below this level to manage downside risk. If the price continues higher, consider using a trailing stop to capture gains as they accumulate.
AUD/NZD has successfully broken through the key resistance level at 1.09, which previously acted as a strong barrier. This breakout indicates potential further upside momentum, turning the 1.09 level into a new support.
Technical Indicators:
RSI is confirming the breakout, moving out of neutral territory, which reinforces the likelihood of a continued upward trend.
Moving Averages:
The 21 EMA has crossed above.
Risk Management:
Since the previous resistance at 1.085 has been broken, consider placing the stop loss just below this level to manage downside risk. If the price continues higher, consider using a trailing stop to capture gains as they accumulate.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.