Home Technical Analysis Asian session catch: AUDNZD respecting positive factors!

Asian session catch: AUDNZD respecting positive factors!

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Resuming our technical analysis series for the AUDNZD pair, we easily can notice how price movements have adopted favorable reaction to our bullish scenario suggested over weekly studies.

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The AUDNZD pair is still positively influenced by the positive divergence and the positive overlap appearing on Know Sure Thing indicator, while Aroon is definitely positive, supporting our constructive bullish outlook.

Prices are currently re-attacking the resistance of 1.0880 along with support from the pin bar traced last week.

Hence, it is better to keep our long positions taken earlier, while traders can close just 25% of the quantity used to buy AUDNZD to book some profits in the current sensitive zones.

Still, we see chances for re-visiting 1.12 over upcoming sessions and stop loss could be placed according to your own risk management plan.

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Amir El-Araby Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

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