AUD/NZD Forming a Bottom and Near Upside Breakout Levels

This has formed a small range between 1.0460 and 1.0308, which is near a major long-term support level. If the price breaks higher out of the range I am looking for a target in the 1.07 to 1.0750 region, which provides 240 to 290 pips of upside.

In the short-term though, it is possible the range could continue. If the price consolidates near 1.0450 and then breaks to the downside, that setups up a short-term opportunity to profit from a decline. Target goes near 1.0350.

Give the proximity to support, once the price gets down near 1.0350/1.03 I will once again be looking for an opportunity to get long.

Full details: https://www.thestreet.com/forex/forex-trade-ideas/audnzd-forming-bottom-and-near-upside-breakout-levels