Long AUD/NZD dips for 1.0770
Updated
AUD/NZD intraday bias higher. Momentum heavily bullish.
Stochs and RSI are biased higher, we see a bullish MACD line crossover on signal line.
Immediate resistance is seen by 100-DMA at 1.0750. Break above finds next major hurdle at 1.0771 (July 19 high).
Supports on the downside are seen at 1.0666 (5-DMA), 1.0615 (20-DMA) and 1.0603 (10-DMA).
Bullish invalidation below 20-DMA at 1.0615. Violation there could target 1.0435 levels.
Good to go long on dips around 1.0720, SL: 0.0615, TP: 0.0770/ 1.0820/ 1.0890
Stochs and RSI are biased higher, we see a bullish MACD line crossover on signal line.
Immediate resistance is seen by 100-DMA at 1.0750. Break above finds next major hurdle at 1.0771 (July 19 high).
Supports on the downside are seen at 1.0666 (5-DMA), 1.0615 (20-DMA) and 1.0603 (10-DMA).
Bullish invalidation below 20-DMA at 1.0615. Violation there could target 1.0435 levels.
Good to go long on dips around 1.0720, SL: 0.0615, TP: 0.0770/ 1.0820/ 1.0890
Note
Correction: SL: 1.0615, TP: 1.0770/ 1.0820/ 1.0890
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