Talking Points:
- AUDNZD Technical Strategy: Bullish
- Elliottwave Count: Short term bullish for A-B-C correction
AUDNZD is ticking up for bullish reversal. We are expecting reversal to be happen any time in next week to complete it's A-B-C correction. Current pattern suggest incomplete structure and require one move above 1.10
Same time ATX (Australian Index) is trading on triangle and expecting one more upward move for wave E which can push all AUD move higher for short term trend. While, NZD index is trading all time high with huge divergence which suggest short term NZD weakness in NZD pairs. With that context, we are betting on bullish on this pair.
Action
We are long on this pair with defined stoploss, We will continue to hold our longs for near future and will add more position, if price level are promising and satisfied our risk:reward ratio
