similar to AUDUSD, AUDNZD is also very bullish, price tested and bounced from uptrend trendline support last friday, it bounced impulsively and broken the corrective channel (in red) above and retested it today.
This is a very good long opportunity for upcoming impulsive move up.
Fundamentally AUD is also much better than NZD as NZD is still weighted down by low milk price while AUD is enjoying structural shift from heavy mining to more service based economy, and a great boom in employment.
be sure to use good money management on every trade.
评论
ZAli
⋅
i agree with your analysis, the long term technicals is bullish. Not so sure about the fundamentals though with the milk stuff hehe. Awesome perspective though.