AUD NZD is likely to maintain the channel for the rest of July.
AUD NZD analysis – Daily:
On the daily this pair moved down in a retracement to an earlier up movement. It is sitting on the .236 at 1.07396. The rsi is below the buy zone and should be ready to move up to the sell zone soon. This pair should move to the .382 at 1.07661 which will give 30 pips. If it moves to the .618 at 1.08071 this would give 71 pips and if it moves to the .786 at 1.08363 this would give 101 pips.
AUD NZD analysis – Hourly:
On the hourly this pair has moved steadily down a down trend line and has now crossed the trend line. It is in consolidation at the moment sitting on the .382 at 1.07381. The rsi is sitting in the middle and should resume it’s upward road to the sell zone soon and reach the .618 at 1.07528 giving 12 pips. If it goes to the .786 at 1.07632 this will give 23 pips.
Do you have any questions regarding a currency pair? We want to assist you with the trading and we can analyse any currency pair for you. Do you follow any traders and are not convinced if they are trading as normal? Let us have a look at it. Forex and profits is all about helping each other out, and making ourselves more confident as a trader.
AUD NZD in the news
The Australian Dollar has declined by 2.22% against the New Zealand Dollar since June 2. The currency pair is currently trading in a narrow descending channel pattern, according to FX Street,
Risk on; AUD shoots through 0.69 US cents: The Australian dollar rallied overnight having slipped back below 0.68 US cents throughout the domestic session. Risk assets suffered early as investors grappled with reports out of the US and Beijing citing new coronavirus hotspots.
Yahoo Finance
We provide new trading analysis every week
Was this article helpful for you? What do you think of the AUD NZD currency pair? Is it ready to go in a bullish trend now? What is happening today with the AUD NZD? Check out the economic calendar for what times you should pay extra attention! We often use Pivot points in our analysis. I have already written an article where I explained in detail how target trading works.
I’d love to know what you thought of this article. Don’t forget to go to our facebook page and give us a “Like” and leave your comments.
Disclaimer:
Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky. Consider all the risks carefully before investing in the Forex Market. Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only general information and market commentary, thus, it does not incorporate investment advice.
