📉AUDNZD SELL 📉
💰Take Profit 1 - 1.0832
💰Take Profit 2 - 1.0782
💰Take Profit 3 - 1.0732
❌ Stop loss - 1.1012
Here is my analysis of AUDNZD:
The AUDNZD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.0912, and a sell entry point of 1.0912 is just above the recent low of 1.0892.
There are a few reasons why AUDNZD could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the NZD in recent weeks as commodity prices have fallen. Second, the Reserve Bank of Australia is expected to raise interest rates more slowly than the Reserve Bank of New Zealand, which could weaken the AUD against the NZD. Finally, the NZD has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on AUDNZD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for Australia and New Zealand is uncertain, which could impact the price of AUDNZD.
Overall, I think AUDNZD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on AUDNZD:
The economic outlook for Australia and New Zealand.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.
💰Take Profit 1 - 1.0832
💰Take Profit 2 - 1.0782
💰Take Profit 3 - 1.0732
❌ Stop loss - 1.1012
Here is my analysis of AUDNZD:
The AUDNZD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.0912, and a sell entry point of 1.0912 is just above the recent low of 1.0892.
There are a few reasons why AUDNZD could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the NZD in recent weeks as commodity prices have fallen. Second, the Reserve Bank of Australia is expected to raise interest rates more slowly than the Reserve Bank of New Zealand, which could weaken the AUD against the NZD. Finally, the NZD has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on AUDNZD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for Australia and New Zealand is uncertain, which could impact the price of AUDNZD.
Overall, I think AUDNZD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on AUDNZD:
The economic outlook for Australia and New Zealand.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.