Resuming our technical analysis series for the AUDNZD pair, we see how the pair has jumped reaching our previous detected technical objective at 1.1200.
Our target at 1.1200, was defined on May 31 when we published our first technical comment on AUDNZD, using weekly studies.
Anyway, after making more than 500 pips as a profit, we prefer to long the pair gain, reinforced by the following technical factors:
- Breaching the 1.12 catalyst.
- Positivity on Aroon and Parabolic.
- Strength of the reversal appearing on Know Sure Thing.
My new target resides in the 1.1500 zones and those who want to play the risk management game, we will enter the market with 200 pips stop loss, as if the stop is hit, we will be satisfied with 300 pips net profit from AUDNZD longs.