how to trade aud nzd

AUD NZD trends | Currency pair analysis

AUD NZD is likely to maintain the channel for the rest of July.

how to trade aud nzd

AUD NZD analysis – Daily:

On the daily this pair has been zig zagging across two up trend lines and is sitting on the .236 at 1.07589. The rsi is in the sell zone, ready to move down to the buy zone which should bring this pair to the .382 at 1.07170 giving 54 pips. If it continues to the .618 at 1.06486 this would give 125 pips.

AUDNZD Daily March 16 2021
AUDNZD Daily March 16 2021

AUD NZD analysis – Hourly:

On the hourly this pair has moved steadily down following a down trend line , crossed it and zig zagged up and down this up trend line and now is sitting on the .382 at 1.07675. The rsi is in the sell zone ready to move down to the buy zone and should reach the .618 at 1.07439 giving 26 pips. If it reaches the .786 at 1.07276 this would give 42 pips.

AUDNZD Hourly March 16 2021
AUD NZD Hourly March 16 2021

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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,

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Multi-Million Dollar Trader Jin Dao in a Forex Trade Call about AUD and NZD on the 6th of July 2020.
The AUD still could be moving down in relation to multiple pairs. This also applied to the AUD/NZD which has just approached the Fibonacci resistance. Perhaps we’ll see a final wave to the downside on both, AUD/JPY and AUD/NZD.

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.

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AUD/NZD review and forecast.

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