Since the initial weakness we spotted at the lows, we have seen the birth of an impulsive leg higher:
Of course this is very promising, buyers have much rather played the breakup and we got our momentum gambit! Well, for those wondering what rendered the base as valid, I would point you in the direction of the NZ10Y chart which was calling for the end of NZD strength as soon as we approach the 1.00% target.
We must be clear that in AUDNZD 1.055x contains a lot of interest, the ambitious dream of forcing a straight leg towards 1.075x and forcing our opponent into complete capitulation is far from fiction. We can now attack the breakout and force the aggression. The continuation might be 1.055x -> 1.062x -> 1.075x which keeps NZD under pressure.
Thanks as usual for keeping the feedback coming 👍 or 👎
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Trade closed: target reached
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TP3 hit! ✅
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A quick chart update here for those holding their lottery tickets;