AUDNZD – BUY – Friday 13th December

AUDNZD – BUY – Friday 13th December (Closed)

Friday the 13th December

News has broke that Trump is going to sign a phase on trade war deal.

Although nothing has been signed yet, strength is returning to the AUD, NZD and risk on assets, and in the opposite direction the JPY and GOLD have taken a loss.

As we are shorting the AUD, there could be an opportunity to BUY an undervalued pair in the AUDNZD.

AUDNZD – Daily Charts

The RSI is signalling a strong change in momentum to the upside, the 23.6% FIB level target has provided support.

We will now look to enter a buy position with a stop loss of 1.0420 and a take profit of 1.0563

 

Trade Setup
AUDNZD BUY

Entry
1.0479

Take Profit
1.0563

Stop Loss
1.0420