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November 19, 2021

Another Great Short Opportunity On This Pair

Frank Cabibi

11/19/2021

AUDNZD could be setting up for yet another short opportunity after a weak rise from the lows. The pair is up 0.21% on the day at the time of writing this

Our outlook

The Aussie buck still has no real strength behind it since the central bank never mentioned a rate hike any time soon. On the other hand, the kiwi looks strong due to the expectations of a hike up to 50 basis points in 2022. The pair looks weak overall as well due to the overwhelming pressure to the downside.

Trade Setups

AUDNZD

AN on the 1D chart is coming up to a possible retest on a falling trend line. Depending on how today and next week goes, we may see price come up to that falling trend line which investors are likely watching for additional short setups. However, if momentum is exceptionally weak, price may fall to the lows of 1.02825 for support.

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