[AUD/NZD] Risk on may drive the AUD to rise.

Opera House, Sydney, Australia

After shutting its international borders for nearly 600 days due to the pandemic, Australia welcomed its first group of foreign visitors on Monday as the country took steps to gradually lift restrictions again.

Technical Analysis

For time-frame 1 day as shown, the price is moving inside bearish flag and above Fib Retracement level 0.236. RVI reading is growing from 20 to 44, and MACD is below signal line with recovering.

1st option: its better to wait for moving the price out of the bullish flag. Buy above 1.0540 with target 1.0690 and 1.0805 with stop loss at 1.0270

2nd option: if the price close out of the flag below 1.0410 look for further downside with 1.0280 as a target.

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Risk Disclaimer!

The analysis in this article is only for the purpose of sharing information. It is not a trading advice and should not be taken as one. Trading on the stock exchange is a high risk business and may not be suitable for everyone. The Trade Academy Ltd and the author (authors) of the article/s will not be liable for any losses that may occur.

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