Chapter 13 Is AUDNZD going up trend again?
05/03/2023
Summary
Australian interest rate decision leads the market
Fundamental analysis
Fundamentally on this pair AUDNZD, we have news coming on Tuesday in the economic calendar regarding the Interest rate decision for the AUD with positive expectations To increase the interest rate to 3.6% also we have a trade balance with positive expectations, On the other hand, we don't have any important news on the NZD.
Australia RBA Interest Rate Decision
Previous 3.35%
Expected 3.6%
Australia Trade Balance
Previous 12.237B
Expected 12.7B
Technical analysis
In this 4-hour diagram chart, the market price now is 1.08764, we expect the market to Push down the price to the previous demand zone and also the top of the down channel at 1.90000 then We expect the Price will move up To the oldest supply zone at 1.09700 With 20 moving average pointing up.
Trading Recommendation
Trading Direction: Long
Entry Price:1.09434
Target Price:1.09622
Stop Loss: 1.07896
