-INTRODUCTION- AUDNZD has been moving in a horizontal channel after reaching a new high at the 1.1110 level. The new high has not been retested. Therefore, we will continue to look for buy opportunities after a pullback.
Check out our previous AUDNZD pullback trading ideas below.
Stop reached. The price was moving well according to the plan like the last time but unfortunately, RBNZ interest rate decision today caused a sharp drop. The New Zealand government was hawkish and the rates rose by 50bps as expected. Therefore, after this sharp movement, we expect a future appreciation of NZD and will look for sell entries for the AUDNZD pair.