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AUDNZD DAILY CHART – RBNZ FALLOUT
It is the reaction to news that matters played out overnight with the NZDUSD falling sharply (down about 1%) after the RBNZ, as generally expected, cut rates by 50bps
AUDNZD reaction (up) would need to establish above 1.1056 to expose the Major level at 1.1151.
Otherwise, range is to 1.0980-00,
Robinson – NZDJPY Monthly
I have added some of my Channel lines , so now you have a channel within channel .
I am going to ask Jay to explain basics of Cross trading – when you have much more influence on rate of the cross coming from Majors like USDJPY & NZDUSD – it is very important to understand that part , as charts might not be enough to trade such a pair like NZDJPY
AUDNZD DAILY CHART – ANTHERTWINNER IS…
How do we know when a cross flow is driving the spot market?
One clue is when two related currencies move in opposite direction.
This is the case with the AUDUSD (higher) and NZDUSD (lower)
Key resistance next at 1.0944, blocks a move to the maor 1.0997-1.1030.
Expect support on dips while above 1.0840-90, stronger if above the top of this band.
NZDUSD 1-hour chart
Blue lines dominate, indicating risk on the downside.
Key support is clear at .6156-61, which needs to hold to prevent a further push to the downside. Should the support zone give way then .6150 (psychological) and .6128 are next.
On the upside, .6200 is the key resistance, minor at .6185 ahead of it.
Underperformers
NZDUSD and AUDUSD were the underperformers today,
