AUDNZD Lower
trying AUDNZD lower here.
Nice resistance above from about 2 or 3 pullbacks previously at this level which should help slow down this up trend.
overall the move higher has been on a decent AUD economy and very strong hard commodities on the back of supply issues and russia. I think this is overall moving in favour of NZD now as soift commodities is overall outperforming hard commodites as shown on the chart. We also have china/global growth worries and worse AUD trade balance recently which should help a move lower as well.
In terms of rate differentials they also suggest lower.
makes sense from correlation perspective, overall narrative lower as well.
sentiment and positioning is neutral.
not trading/investment advice, feedback welcome!
Nice resistance above from about 2 or 3 pullbacks previously at this level which should help slow down this up trend.
overall the move higher has been on a decent AUD economy and very strong hard commodities on the back of supply issues and russia. I think this is overall moving in favour of NZD now as soift commodities is overall outperforming hard commodites as shown on the chart. We also have china/global growth worries and worse AUD trade balance recently which should help a move lower as well.
In terms of rate differentials they also suggest lower.
makes sense from correlation perspective, overall narrative lower as well.
sentiment and positioning is neutral.
not trading/investment advice, feedback welcome!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.