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 zigged zagged it’s way making higher highs slowly following 3 up trend lines. This pair broke through the .786 at 1.08279 and retraced a bit, resting before it’s next move. The rsi is in the sell zone but skimming along indicating further up movement yet to come. This pair should go to the .180 at 1.08519 giving 26 pips and then should start to head down to the buy zone to the .618 at 1.07782 giving 78 pips.

AUD NZD analysis – Hourly:

On the hourly this pair has moved steadily upwards and ended just below the .270 on the fib. The rsi is in the sell zone and headed down to the buy zone which should bring this pair to the .236 at 1.07887 giving 36 pips which would cause the up trend line to be broken. If this pair continues to the .382 at 1.07722 this would give 53 pips.

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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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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.

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