Attention! Posts are commentary only, NOT SPECULATION/INVESTMENT ADVICE. It’s only for education purposes, doesn’t offer to trade.
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AUDNZD – looking for a short (sell) setup.
Last week a daily trend down continued. The price has held below 1.1000 for the last two weeks. By the way, AUDNZD bounced from 61.8% Fibonacci retracement two weeks ago. So at this stage, my target would be near 1.05.
Most importantly, I will be looking to trade NZDUSD only after the RBNZ Rate Statement and RBNZ Press Conference. If interest rates were cut and the price went up, I would not sell, only keep watching, maybe trade from the next week.