Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
AUD/NZD: a trade idea
Trade idea
BUY 1.0440; TP1 1.0500; TP2 1.0535; SL 1.0420
AUD/NZD has substantially fallen in the recent days. More downside is likely. The pair will be vulnerable for a decline to support at 1.0440 (December lows). In this area, it should find support. The arrival to this levels will trigger a “Shark” harmonic pattern and lead to a rebound.
Elizabeth Belugina
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