Sforex

AUDNZD: Could 3 year high hold the rally of AUDNZD ?

FX:AUDNZD   Australian Dollar/New Zealand Dollar
81 0 2
The pair I recommend traders should watch this week is AUDNZD             .

It is holding near 3 year high : 1.1375-1. 1400             handle.

The question is could it hold this handle or lost momentum ?.

Support is at 1.1140

Fundamental :

- RBNZ would cut rate one more time in this year.

- While RBA refused to talk about rate cut despite they want to see Aussie's drop.

This week, besides payrolls, Caixin and NBS Manufacturing PMI of China are also main focus for Aussie.

I think the best way is wait for the break key support 1.1140 then we engage SHORT. It's not too late because there are a lot of room for SHORT position below 1.1140 .
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