AUDNZD Technical + Fundamental Align for Downside

7月29日

Today I want to analyze a short position on the AUDNZD(AUDNZD) pair, first, let's look at it from a fundamental analysis perspective.

Fundamental View on AUDNZD

Key reasons to short AUDNZD:

Australian weakness:

Recent data show weakening consumer sentiment and declining building approvals. The RBA seems hesitant to hike further, putting pressure on the Aussie.

New Zealand resilience:

The RBNZ maintains a relatively hawkish stance. Inflation is still a concern, and the central bank is committed to keeping rates high, supporting NZD strength.

Monetary policy divergence:

The divergence between RBA’s dovish stance and RBNZ’s hawkish approach supports further downside in AUDNZD.
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Now let's take a look at AUDNZD from a technical analysis perspective on the 4-hour timeframe.

AUDNZD is currently trading in a Heavy Resistance zone(1.0963 NZD-1.0870 NZD) near the upper line of the Range Channel, Potential Reversal Zone(PRZ)[1.0956 NZD-1.0935 NZD] and Yearly Pivot Point.

In terms of Elliott Wave theory, AUDNZD appears to be completing microwave B of microwave Y of the main wave 4.

I expect AUDNZD to drop to at least 1.0904 NZD(First Target) based on the above explanation.

Second Target: 1.0886 NZD

Note: Stop Loss(SL): 1.0963 NZD

Please respect each other's ideas and express them politely if you agree or disagree.

Australian Dollar/New Zealand Dollar Analyze (AUDNZD), 4-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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7月30日

交易开始

Trade was activated on Potential Reversal Zone(PRZ)[1.0956 NZD-1.0935 NZD]

8月2日

交易结束：到达目标

First target Done