Monday, April 20, 2015

AUDNZD Buy Recommendation April 21st 2015

Currency Pair: AUDNZD
Timeframe: Hourly Chart (H4)
Recommendation: Buy AUDNZD @ 1.0050
Take Profit @ 1.0300
Stop Loss @ 0.9900

The AUDNZD corrected sharply as it ran into resistance. This currency pair is now trading inside of its support level and is also approaching the psychologically important 1.0000 level. This represents and excellent buying opportunity in the AUDNZD.

I am going long at 1.0050 and look for a nice rally back into resistance. Watch out for a powerful short-covering rally. I will buy the dips below my entry level and spread my buy orders covering the 50 pips range down to parity.



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