AUD/NZD Stepping Up The Trend Line

Published 07/18/2016, 07:06 AM
Updated 01/31/2022, 02:45 AM
AUD/USD
-
AUD/NZD
-

AUD/NZD is in an uptrend and traders are looking for new long opportunities on a pullback. New Zealand CPI is below expectations; there is also a possibility of a rate cut.

Generally speaking, New Zealand is a smaller economy. It might eventually lose to trade agreements, and currently Australia has more bargaining power and a more diverse economy. Fresh AUD strength started after elections, but we also saw commodities up in the past week.

Technically, AUD/NZD is showing confluence within H3, 61.8, and the ascending trend line. 1.0640-60 is POC zone and we could now see moment buyers. If the pair makes a 4h close above H4, it should target 1.0740. H4 chart shows possible extension to 1.0770. 1.0600 should hold for uptrend scenario to be valid.

AUD/NZD H1 Chart

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.