Get started

Audnzdlong

Long AUD/NZD, targeting 1.1000Recent developments A dovish RBNZ policy announcement has been conducive to the pair's push to a six-month high. Further monetary policy of asset purchases over negative rates was largely expected. Technical analysis The pair has given back a bit since rallying at its fastest pace since 2014 (around 7% increase in just over a month). If it can break past previous 1.0850 key level, then there should be a chance to test 1.10 or at the very least trade up the channel with ease. Primary drivers for a further move up On the fundamental side, elevated risk sentiment on the backdrop of bottoming growth in markets, as well as the continued divergence between RBA and RBNZ should support the upward direction of the pair. Policymakers have remained quite dovish, which should be risk-positive as central banks have incentive to ease rather than tighten. With that being said, the RBNZ policy stance is looking more dovish than the RBA's. We can look at both policy stances and yield curves for an indication of what's to potentially come. The RBNZ have kept the official cash rate at 25 bp, while the base of asset purchasing have been expanded to a cap of NZ$60bn. Although the market seems to be pricing in negative rates, I don't think it's likely that we will see that, given that the RBNZ effectively guided that it won't happen (at least for this year - although this could be on the cards for 2021). Why lose all credibility on forward guidance when there are other methods of easing such as bond purchasing or fixed term loans? Either way, the base case is further easing and I would look towards August and June meetings as further catalysts if financial conditions tighten. On the contrary, the RBA has stopped purchasing bonds since early May after hitting 25 bp on the 3Y; keeping the curve at the current levels should be supportive to Australia, which remains a relatively high yielding Aaa country (despite slight rating downgrade). Risks Downside risk on AUD/NZD lie in 1) narrowing policy differentials, 2) risk sentiment softening, 3) and/or a more hawkish RBNZ that would lead to NZD strength, thus pushing the pair lower. As such, targeting top end of the channel 1.1000 with a stop of 1.05985.
Long
by Miloslaw
6
AUD/NZD moving up 🦐AUD/NZD created higher high higher lows in the past few days and now just broke the resistance structure. Based on the price action pattern we can see an "inside candle" and we can expect the marker to move further up. According to our strategy we can look for a Long position at the resets of the structure. Give us a like if you agree with the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Long
by InkyGrip
AUD/NZD forming a triangleThis triangle is signaling us that there is indecision between Buyers and Sellers. They can deicide where the price will go. Right now and maybe even in next couple of days we will see this ranging to continue. However sooner or later we predict that either Bulls or Bears will take advantage of one another. This could be a nice trading opportunity for next week. We have put Alerts on both directions and when one alert is triggered then we will make a decision. Follow this idea and don't let good trade to go without you :) Let us know what you think about this idea and don't forget to follow us for more ideas :) Good luck !
by UnknownUnicorn3249870
AUDNZD May come downtrend til 1.0530I think all of the indicators are showing WRONG DATA for this chart now. here are some reasons why I say it may go down !!!! 1-as you see, there is a very nice resistance area at top. 2- Double top pattern shows that the price is not strong enough to go high. 3- last high is not higher than previous high 4-its also a shoulder pattern 5-the Fibonacci retracement exactly shows the range I'm almost sure about falling down. BUT DON'T RISK MUCH, Its the market ! Have Fun :-) Mohammad Someaneshin
by mohammadsomeaneshin