AUDNZD looks to be rolling over

AUDNZD, Daily              

The NZD seems to be gaining some more buyers in the last few days with interesting candle patterns displayed in the EUR/NZD (Tweezer Top) and NZDCHF (Tweezer Bottom), but the one that has spiked my interest the most is its near neighbour the AUD.

A Tweezer Top was also formed in the AUDNZD yesterday, as the pair closed back at the extreme of the Bollinger band and supported by the 50 DMA. A break of this 1.0490 level on the 4 hour chart triggered a SHORT position with Target 1 a little over the 14 Day ATR and in line with the 38.2 Fibonacci level from the recent up move at 1.0420 and Target 2 at 1.0275.


The 4 Hour chart shows the turn in the Parabolic SAR  yesterday (September 26) and a number of Doji candles suggesting the eight day up move was at least slowing. The 20 period MA on this chart is currently providing support, however the 200 period MA also coincides with Target 1 at 1.0420 and the 38.2 Fibonacci retracement level from the Daily chart.

Click here to access the HotForex Economic calendar.

Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! My next LIVE Analysis webinar will start in:

Stuart Cowell

Market Analyst


Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.