AUDNZD: Are we going to see a period of AUD weakness versus NZD?
We have seen a break of up trend on the 4H AUDNZD chart. I'm looking to trade a retracement of the initial impulse back up to the 0.618 Fibonacci level.
Fundamentally CPI data, released today, from Australia has showed the inflation has slowed (2.7% down from 3.5%). Is the market going to price in a AUD rate cut? Who knows!
In anticipation of this I have place a limit order to sell at 1.0907, SL at 1.0950 and TP at 1.0824.
Fundamentally CPI data, released today, from Australia has showed the inflation has slowed (2.7% down from 3.5%). Is the market going to price in a AUD rate cut? Who knows!
In anticipation of this I have place a limit order to sell at 1.0907, SL at 1.0950 and TP at 1.0824.
Nota
I think we have the answer to my answer to question; "Are we going to see a period of AUD weakness versus NZD?". The short answer is no I believe.
My limit order was executed and was on the news that the Chinese government are going to introduce some measurements to stimulate the economy (last Wednesday night/Thursday morning). The price is flat and I managed to exit for a small profit. We have a Chinese PMI released Sunday night/Monday morning that could impact my trade and I don't wish to hold a position into the weekend.
Aviso legal
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