Chapter 7 Is AUDNZD keep the uptrend ?
08/02/2023
Summary
AUD Interest rate decision data leads to the market.
Fundamental analysis
The fundamental view on this pair AUDNZD Shows that the Interest rate decision in the Australian dollar has been increased to 3.35% Which gives the Australian dollar strength, On the other hand, we don't have much news on New Zealand for this week.
Australia's Overnight Lending Rate
Previous 3.1%
Actual 3.35%
Technical analysis
In this 4-hour diagram chart, the Market price now is 1.10068 Coming from the uptrend we expect the price to keep this uptrend ongoing And keep creating higher highs and higher lows With the 20 moving averages keep pointing up.
Trading Recommendation
Trading Direction: Long
Entry Price: 1.10159
Target Price: 1.10867
Stop Loss: 1.09796
