AUDNZD: Are we going to see a period of AUD weakness versus NZD?

٢٥ سبتمبر ٢٠٢٤

We have seen a break of up trend on the 4H AUDNZD chart. I'm looking to trade a retracement of the initial impulse back up to the 0.618 Fibonacci level.

Fundamentally CPI data, released today, from Australia has showed the inflation has slowed (2.7% down from 3.5%). Is the market going to price in a AUD rate cut? Who knows!

In anticipation of this I have place a limit order to sell at 1.0907, SL at 1.0950 and TP at 1.0824.

٢٧ سبتمبر ٢٠٢٤

ملاحظة

I think we have the answer to my answer to question; "Are we going to see a period of AUD weakness versus NZD?". The short answer is no I believe.
My limit order was executed and was on the news that the Chinese government are going to introduce some measurements to stimulate the economy (last Wednesday night/Thursday morning). The price is flat and I managed to exit for a small profit. We have a Chinese PMI released Sunday night/Monday morning that could impact my trade and I don't wish to hold a position into the weekend.