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