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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 profit target reached, remain bullish

Price reached our profit target perfectly yesterday. Today we look to buy on dips at 1.0600 support (Fibonacci retracement + Elliott Wave structure) for a bounce up to 1.0745 major resistance again.

RSI (34) has bounced above our support as expected yesterday and has made a bullish exit of its descending resistance-turned-support line signaling a rise is in progress.

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Buy above 1.0600. Stop loss at 1.0550. Take profit at 1.0745.

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