AUDNZD – BUY STOP – Thursday 19th December

AUDNZD – BUY STOP – Thursday 19th December (Closed)

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.

Trade Setup
BUY STOP

Entry
1.0430

Take Profit
1.0550

Stop Loss
1.0350