AUDNZD – BUY STOP – 28th October 2020

AUDNZD – BUY STOP – 28th October 2020 (Closed)

Good afternoon team,

CPI data is due in 15 mins. Please read todays report in telegram for the fundamental information into why we are slightly bullish on the AUD compared to the NZD. Todays data release could impact the RBAs next interest rate decision.

Key support zone followed by a falling wedge formation.

AUDNZD – 1 Hour Charts

There are two possible entry points on the AUDNZD. On the retest of the wedge formation, and on a break above resistance at 1.0670. 

Trade Setup: BUY STOP: Entry point 1.0670, stop loss 1.0600 and take profit left to run, targets can be found at 1.0758.

Stop loss: 70 pips

Take profit: 88 pips

If the result comes out negative for the AUD please close the position.

 

Trade Setup
BUY STOP

Entry
1.0670

Take Profit
1.0758

Stop Loss
1.0600