Trading strategy for the currency pair AUDNZD

  • Mar 13 2017
  • by
  • Analyst AZA
Trading strategy for the currency pair AUDNZD

Trading strategy and signals for the currency pair AUDNZD

Follow this advice for advantageous trading on the forex market.
The New Zealand dollar dives in the Forex market. And his brother, the Australian dollar, on the contrary, is strengthening its position. At the opening of trading, we also expect the continuation of this trend, so the technical summary of this pair suggests an active purchase of the Australian dollar. The currency pair Australian and New Zealand Dollar is again in a growing trend in the Forex currency market. Before opening, the rate is projected at 1.09 with a positive growth. We advise newcomers on the market to work with this pair of, as the movement is fairly predictable and the pair's volatility is small. Although it is not a very common working tool for a trader, even professionals appreciate this pair for stability of income. Our trading analyst previously recommended buying this trading instrument, and the goal was achieved, we fixed the profit. Now the currency chart again shows a good pattern for opening a new long position. If traders buy this currency pair, as before, it is quite possible to rejoin the bulls and enter the market. As can be seen on the chart, after the acceleration of the trend, a correction began, which was not very deep, which indicates the intention of the price to continue its trend again. Although the currency pair is not a fast and volatile, but patient traders who can sit in the position for several days will bear fruit.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: Day
•    The trade recommendation: Buy
•    The level of entry into long position: 1.0930
•    The level of profit and close the position: 1.1030 (100 pips)

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