AUD,NZD/FXWW News/Technical Analysis

AUD/NZD: Double-bottom fails to form

The double-bottom on the short-term charts had a neckline at 1.1725 but this level has failed to hold (see chart).

This has slightly weakened the AUD bottom-pickers argument.

  1. Hi Sean, follow your advise I been long NZDCHF at 0.74, I m plan to move my SL at my entry lvl if daily close above 0.75, and set my TP at 0.762, or actually you think it will move higher?

  2. Noted,thanks, currently the position I’m open are long commodity pair, include AUD, not sure that are the contrarian you call.

  3. I’d stick with long NZD and long AUD trades Jack. I’m pretty sure that we will see both bouncing strongly in coming months once the sheep have all herded onto the trade of the moment.

  4. Yup,I’m have a faith in your view, for AUDUSD I’m wait it daily close above 9MA, then maybe we can see the 0.93(21MA), that my personal view, I’m keep buying AUDUSD on dips, last friday I’m long @0.905 after NFP,(current average at 0.909) hope that will bring me the reward soon,thanks Sean!!

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