AUD/NZD shows great support at 1.0400, and we've seen the price complete a wave c/ at that level. The first resistance we're seeing is at 1.0550, which is a graphical resistance level, fibonacci retracement level and a fibonacci projection level (so we shouldn't try to play a rise above 1.0550 yet). 1.0400 is a big 1.0 Fibonacci projection level too, which is why it is our stop loss.
Trading recommendations:
Buy now and once more at 1.0475
Stop loss at 1.0400
Take profit at 1.0550
