AUDNZD - 24 - Slightly ranging
Trade Alert
This is just an idea, as we can see that AUD/NZD is struggling with the upside, where the Australia's neighbouring NZD is one of the best performers lately.
If the pair drops below 0.9633 level, this could mean that further declines are possible, where we could then aim for a test of the 200 EMA (black line). If the bears remain in control, then further declines could be possible.
Alternatively, a break above 0.9670 hurdle may clear the path towards the recent highs around the 0.9775 zone, marked near the high of the 2nd of December.
Don't forget your SL.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with the Company.
This is just an idea, as we can see that AUD/NZD is struggling with the upside, where the Australia's neighbouring NZD is one of the best performers lately.
If the pair drops below 0.9633 level, this could mean that further declines are possible, where we could then aim for a test of the 200 EMA (black line). If the bears remain in control, then further declines could be possible.
Alternatively, a break above 0.9670 hurdle may clear the path towards the recent highs around the 0.9775 zone, marked near the high of the 2nd of December.
Don't forget your SL.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with the Company.
Comment:
AN ERROR IN THE NAME AND A FEW REFERENCES IN THE TEXT. IT SHOULD HAVE BEEN AUDCAD, SO APOLOGIES FOR THE CONFUSION.