After 7 consecutive weeks down AUD/NZD is close to the lowest level this year 1.0483. Taking into consideration that this is also a multi year low readings below 1.0500 give us a chance for long entry. The stop must be placed around 1.0450. If the buy order is filled it will be better to place only the stop order. The stop limit order should be placed at least 100 pips from the entry but i prefer to monitor the trade closely because there is a potential for a bigger upward moves if the support level of 1.0500 is not broken.
Good Luck!
