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The AUDNZD is approaching the support level for the fourth time

  • Jul 30 2021
  • by
  • Analyst AZA
The AUDNZD is approaching the support level for the fourth time

The AUDNZD is approaching the support level for the fourth time

The Australian dollar shows its weakness against the New Zealand dollar and for the fourth time, it is approaching the support level, which is holding back the further price decline. The price has been below the 200 average for a long time. MACD indicator crossed the zero level down again. The price does not have a large power reserve until the flat level of 1.0500, where there is a strong support level. This is not a very volatile trading instrument, so 35 pips will be quite acceptable in this trade.

Symbol: AUDNZD
Order Type: Pending Order - Sell Stop
Entry Price at 1.0535
Take Profit at 1.0500
Pips Earning: 35

 

Forex trade strategy and trading signals for major currency pairs:

EURUSD buy at the price of 1.1900

USDJPY sell at the price of 109.35

GBPUSD buy at the price of 1.3985

USDCHF sell at the price of 0.9050

 

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The profit can be $252.77 if the trading volume of 100000 AUD (1 Lot).

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