AUDNZD Breakout: Long Opportunity in Ascending Channel

semalam

Today I want to share with you a Long position opportunity in AUDNZD(AUDNZD).

Let's first take a brief look at the AUDNZD fundamentals.

RBNZ kept rates at 3.25%, signaling likely further cuts in August.

RBA paused at 3.60%, but dovish bias remains; markets expect more easing ahead.

As NZD is more pressured by immediate rate cuts than AUD, the fundamental setup favors a bullish AUDNZD.

Now let's find a long position for AUDNZD using technical analysis.

AUDNZD seems to have managed to break through the Heavy Resistance zone(1.0963 NZD-1.0870 NZD) and is moving near the Support zone(1.0964 NZD-1.0954 NZD) on the 1-hour time frame.

AUDNNZD is also moving in an Ascending Channel.

I expect AUDNZD to rise at least to the Resistance lines, the second target is the Resistance zone(1.103 NZD-1.0993 NZD).

Note: Stop Loss(SL): 1.0944 NZD

Please respect each other's ideas and express them politely if you agree or disagree.

Australian Dollar/New Zealand Dollar Analyze (AUDNZD), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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17 jam lalu

Dagangan aktif

Trade was activated

2 jam lalu

Nota

still valid