AUDNZD Lower
trying AUDNZD lower here.
Nice resistance above from about 2 or 3 pullbacks previously at this level which should help slow down this up trend.
overall the move higher has been on a decent AUD economy and very strong hard commodities on the back of supply issues and russia. I think this is overall moving in favour of NZD now as soift commodities is overall outperforming hard commodites as shown on the chart. We also have china/global growth worries and worse AUD trade balance recently which should help a move lower as well.
In terms of rate differentials they also suggest lower.
makes sense from correlation perspective, overall narrative lower as well.
sentiment and positioning is neutral.
not trading/investment advice, feedback welcome!
Nice resistance above from about 2 or 3 pullbacks previously at this level which should help slow down this up trend.
overall the move higher has been on a decent AUD economy and very strong hard commodities on the back of supply issues and russia. I think this is overall moving in favour of NZD now as soift commodities is overall outperforming hard commodites as shown on the chart. We also have china/global growth worries and worse AUD trade balance recently which should help a move lower as well.
In terms of rate differentials they also suggest lower.
makes sense from correlation perspective, overall narrative lower as well.
sentiment and positioning is neutral.
not trading/investment advice, feedback welcome!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.