Looking for a buy trade to setup for AUDNZD.
We have punched through a significant Support/Resistance area around 1.07300 zone.
On the fundamental front we would like to see some bulish sentiments come into Cash Rate Indicator & RBA Statement for Ozi Dollar.
We are keeping a close eye for this setup near area highlighted by white circle.
If trade sets up with nice bullish signals we are targeting 1.07800 zone for profit taking.
Screenhot:
Yes, I agree keeping an eye on the white circle, if it reaches it - a pending buying order could be utilised. All my current signals favour an upward trend, although this pair is renowned for retracing, in which you could also utilise a bearish pending order if it breaks back down.
We are still messing about the SnR zone, not free from it… possibly will have to stand aside on this trade.
Still Stalking this trade, also expanded the SnR zone to fit the current range that was formed. Trade could setup later on ?
Totally agree, one of the confident levels. Worth a try. At least the technical analysis shows it quite clearly. It’s a little harder to navigate now, although it’s probably always like this, lol…
One of the most predictable currency pairs today.
I’ll give it a plus.
Quick video on trade recap for the week for AUDNZD & GBPJPY
