Hi,
Two coils in front of it, angled somewhat to both be directed towards the wire, if you need to be able to discern the position accurately.
A single coil will do if you go by the amplitude and never need to cross the fence.
The fence itself should just be a single wire with an audio signal - preferably a sine of say 2..10 kHz
In effect, it's an inductive loop as used by the telecoils in hearing aids - doesn't take much power, 5W should be ample, but the output amp needs to have a reasonable low output impedance.