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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/NZD trading recommendation for 23rd June 2016

analytics576b528541046.png

The key idea here is to wait for the price to make a push down to the 1.0450 level, which is a beautiful graphical support, and this would correspond with the ascending support seen on the RSI, too. From there, we can take a long position for a rise to 1.0500 first before 1.0550.

Trading recommendations:

Buy at 1.0450

Stop loss at 1.0400

Take profit at 1.0550

The material has been provided by InstaForex Company - www.instaforex.com