Trading Idea AUDNZD 9th December 2015

forex pair AUDNZD trade comment

Attention! Posts are commentary only, NOT SPECULATION/INVESTMENT ADVICE. It’s only for education purposes, doesn’t offer to trade.

DISCLAIMER – please read it carefully.

AUDNZD – looking for a short (sell) setup.

Last week a daily trend down continued. The price has held below 1.1000 for the last two weeks. By the way, AUDNZD bounced from 61.8% Fibonacci retracement two weeks ago. So at this stage, my target would be near 1.05.

Most importantly, I will be looking to trade NZDUSD only after the RBNZ Rate Statement and RBNZ Press Conference. If interest rates were cut and the price went up, I would not sell, only keep watching, maybe trade from the next week.