Thursday 19th December
The AUDNZD hammered down at took our stop loss this morning, however it has also held its price at support. If the Australian economy prints a good employment result this morning we could see the pair push higher. Going into Christmas employers will be taking on seasonal staff, therefore we could see a large upswing in participation rate meaning strength into the AUD.
The pair are trading on a major support level in a descending wedge.
Trade Set Up: BUY STOP: Entry price above the wedge line at 1.0430 with a stop loss at 1.0350 and a take profit of 1.0550.
Stop loss is 80 PIPS and take profit of 120 PIPS.
This trade will need to be placed before 11:30am, if you have missed the trade do not place.