By: DailyForex.com
AUD/NZD Forex Signal: Risk 0.33%
Trade should be entered before noon London time.
Trade 1 – buy
go long at 1.0633
stop loss at 1.0550
take half profit at 107, move stop loss to breakeven
AUD/NZD Analysis
The AUD/NZD hair tends to be a barely grinding market. Because of this, you will probably have to be relatively patient, but it appears that the market is trying to break out to the upside. Quite some time ago, we had a gap lower at roughly 1.10 or so, and with that being the case we could be looking to go there over the longer term. With this, I believe that there is a place for below so even if we do fall from here the buyers will likely return.
The Australian dollar has held up fairly well against a falling gold market recently, and I could help produce even more bullish pressure for this currency as it simply will not die.
