AUDNZD pair has approached the support level of 1.0725-1.0700 where it had earlier taken support in September end, thus making this a potential double bottom zone. AUDNZD is likely to find support at these levels and the pair could rebound towards 1.0750 & 1.0800 in the near term, while it sustains above 1.0690.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.