{x} | Trading.live

05/04/2023


Summary
Interest rate decision data leads the market

Fundamental analysis
Fundamentally on this pair of AUDNZD, Today and yesterday we have news released of interest rate decisions of both countries Australia and New Zealand with the unchanged results in Australia's interest rate at 3.6% which make the Australian dollar weaker and with a surprise increase of interest rate in New Zealand from 4.75% to 5.25% which make the New Zealand dollar gaining strength.



Australia RBA Interest Rate Decision

Previous 3.6%
Actual 3.6%



New Zealand RBNZ Interest Rate Decision


Previous 4.75%
Actual 5.25%


Technical analysis
In this 4-hour diagram chart, the market price now is 1.06327, we expect the market to push the price up to the previous supply zone at 1.06800 and then we expect the price to create a new Lower high at this supply zone. Then we expect the price to push more down to the oldest demand zone at 1.05500 Forming a Lower high and lower low with 20 moving averages pointing down.  



Trading Recommendation

Trading Direction: Short
Entry Price:1.06722
Target Price:1.05631
Stop Loss: 1.07431