Hello traders,
AUDNZD
is losing momentum to the downside. This is because
1. The demand for Australian goods is getting higher than from New Zealand. Countries like China are beginning to import more from Australia.
2. The AUD is a commodity currency, so when commodity prices are speculated to rise so also the value of the currency.
3. Since the demand for the goods are rising, so also will the inflow of money. This may lead to hiking rates to curb inflation
Trade set up
Entry price: 1.06800
Target price: 1.07497
Stoploss price: 1.06464
Please like and comment if the idea was helpful
Nedium Team
AUDNZD
is losing momentum to the downside. This is because 1. The demand for Australian goods is getting higher than from New Zealand. Countries like China are beginning to import more from Australia.
2. The AUD is a commodity currency, so when commodity prices are speculated to rise so also the value of the currency.
3. Since the demand for the goods are rising, so also will the inflow of money. This may lead to hiking rates to curb inflation
Trade set up
Entry price: 1.06800
Target price: 1.07497
Stoploss price: 1.06464
Please like and comment if the idea was helpful
Nedium Team