InstaForex - Analytics

    InstaForex

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    AUD/NZD Elliott Wave trading recommendations for 20th June 2016

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    AUD/NZD shows great support at 1.0400, and we've seen the price complete a wave c/ at that level. The first resistance we're seeing is at 1.0550, which is a graphical resistance level, fibonacci retracement level and a fibonacci projection level (so we shouldn't try to play a rise above 1.0550 yet). 1.0400 is a big 1.0 Fibonacci projection level too, which is why it is our stop loss.

    Trading recommendations:

    Buy now and once more at 1.0475

    Stop loss at 1.0400

    Take profit at 1.0550


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