Originally updated: 07:45am
Currency Pair: AUD/NZD
Sentiment: Bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the AUD/NZD.
Fundamentals:
The kiwi rallied overnight after a surprisingly less dovish tone from RBNZ Governor Graeme Wheeler who said there is potential for future rate increases at a later stage. Looking over to Australia, we had what appeared to be good employment numbers, however the numbers were mostly made up of part time jobs, which caused gains to be pared.
Technicals:
I expect this pair to continue its down move during the session, eventually hitting 1.0550. If the market does retrace back up then there is a nice confluence zone of resistance that traders could use as a reference to sell from again.
The confluence zone is at 1.0755-1.0770
Stop loss could be placed at 1.0805
Currency Pair: AUD/NZD
Sentiment: Bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the AUD/NZD.
Fundamentals:
The kiwi rallied overnight after a surprisingly less dovish tone from RBNZ Governor Graeme Wheeler who said there is potential for future rate increases at a later stage. Looking over to Australia, we had what appeared to be good employment numbers, however the numbers were mostly made up of part time jobs, which caused gains to be pared.
Technicals:
I expect this pair to continue its down move during the session, eventually hitting 1.0550. If the market does retrace back up then there is a nice confluence zone of resistance that traders could use as a reference to sell from again.
The confluence zone is at 1.0755-1.0770
Stop loss could be placed at 1.0805
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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