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Sam_Eder

AUDNZD Poised for further upside

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
Sam_Eder  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
Support and Resistance Fundamental Analysis AUDNZD fxrenew trading Forex RBA rbnz
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supportandresistance fundamental audnzd fxrenew trading forex rba rbnz
The Aussie dollar's ability to bounce despite yesterday's risk-off move is encouraging for bulls. Market positioning could be supportive, with IMM data showing largest net AUD/USD short since early February 2016. With commodities rising and a gentile pace of rate hikes from the FED (priced in) Aud may continue to benefit vs. NZD which has seen some fairly cautious commentary from the RBNZ recently.

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