AUDNZD - Can it rebound?

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
I have bought this currency pair after the Australian unemployment report was released (I had a pending buy order in case of a disappointment and it was triggered during the Asian session). I think the AUDNZD is extremely oversold and while we are 100 pips off of our most recent lows my plan is to buy the dips as I think there is plenty of room for this currency pair to rally higher.

I do not think that the Reserve Bank of Australia will cut interest rates due to one disappointment in the jobs data which made the sell-off that more of a buying opportunity to me.

Those are just my ideas and not a trading recommendation.
 

Easy Trader

Master Trader
Sep 17, 2011
240
5
59
It looks like its at a good place for a trend reversal. I'd imagine we would at least get some nice bullishness off of the 2003-2005 lows (monthly chart) maybe to the 1.11 area. But who knows its been a strong run down and there's a ton of sellers in this market. May even travel sideways for awhile before the sellers start to liquidate. I'm def. gonna bite if I see the right price action though, this 1.05/1.06 is a great area I think.