The AUD/NZD has formed another leg in technical uptrend and we should see a continuation move up. My entry is 1.0635 and we are still going up.
Much better than expected Australian and Chinese Trade Balance data reflected positively on the AUD crosses. Trade Balance represents the difference in value between imported and exported goods and services during the month. POC zone is 1.0625-35 so we are seeing the bounce. The first target is 1.0677. If the market closes above 1.0680, then 1.0754 should be the next.
The Analysis has been done with the CAMMACD.Core and Sit Systems
This article was originally posted on FX Empire
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