AUDNZD has been heavily sold off recently due to CB divergence and continued poor Aussie data impacting the AUD and CB expectations for further cuts. While NZD seems to have stabilised, supported by a more neutral CB
However, price has come down in to a significant neckline, and now we've seen a swing break.
We believe this news is baked in and now we're...
Technicals - Price has come off a level of Monthly/Weekly Resistance nicely, and now retraced. Given the move away took out previous swing lows we feel this is a nice price action play to the downside.
Short @ 111.53
Happy Trading
fxsurferguys
"Trading to live, not living to trade”
NZDUSD
Fundys - has been bid recently from Trade war optimism, but we believe this is overdone, and with recent soft data, plus CB expectations baked in we expect to see a move to the downside.
Technicals - Price has come off a level of Monthly/Weekly Resistance. Short @6595. Target is key opposing level on the Weekly Chart @6480-90
Happy Trading
fxsurferguys
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