OctaFX | OctaFX Forex Broker
Open trading account

AUD/NZD Price Analysis: Bulls come back with a vengeance

  • AUD/NZD bears step back in and take out stops back into the resistance structure.
  • AUD crosses have rallied after surprise Aussie jobs report, day traders alerted to volatility. 

AUD/NZD has rallied after an impressive Aussie jobs report, superseding any positives from a beat in the New Zealand Gross Domestic Product report earlier int he day. 

The technical picture has shifted to neutral following the aggressive spike and has resulted in a breakeven trade for the AUD/NZD swing trade that was otherwise 50% on its way towards the target. 

  • AUD/NZD Price Analysis: Update, short position now risk-free for 3R

As it stands, the daily picture remains bearish in a 1,2, 3 wave setup but the 4-hour structure requires the price to not close above 1.0863.

Additionally, the new low created is too close a structure to the target for there to be an appropriate risk to reward opportunity. 

Instead, day trading strategies could take advantage of price action on a lower time frame, such as the hourly chart. 

4HR chart

Foreign holdings of US Treasuries up for third straight month – Reuters

According to the latest data published by the US Treasury department on Wednesday, foreign investors scurried up for the US Treasuries, as most global
Read more Previous

Banks stress test outcome reinforces need tor strong capital buffers - RBNZ

Reserve Bank of New Zealand's (RBNZ) take on the banking sector stress tests are crossing the wires via Reuters and LiveSquawk. The stress test result
Read more Next
Start livechat