AUD/NZD on the weekly chart is starting to look a little high risk for buyers.... The value index is going lower and diverging from the price trend.. that only happens for so long before a corrective phase and the seasonals are suggesting a few weeks of bearishness.
Head and shoulders pattern with a trendline break. What do you lot think.
I'm gonna try entering with those trailing sell stops tonight if things look good. Need a decent break below the 1.2125 before I enter.
Supports at 1.2042, 1.1755, and if we're lucky 1.11 somewhere.
Sounds good to me but the RBNZ rate decision isn't until Thursday 11th and the banks have a growing penchant to make it pretty hard to hold a position prior to the event. Could be a rocky ride.
hi guys , momentum plays a big part in the ability to collect the pips.
you are probably focusing on the one cross which over the last few weeks has not moved at all.
i think the way the markets are moving in blocks at the moment , its unlikely for the aud and nzd dollar to take separate paths.
hi all im no currecy trader but nz/aud at 88c its been a while since its been this high could this be seen as a good time to buy aud or is it likley that the aud will keep on weakening
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Originally Posted by AMR
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