Thurs 8th December 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • AUDNZD
  • NZDCAD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

Is AUDNZD Trend At An End?

In today’s currency strength analysis video we identify if the long term downward trend on AUDNZD is at an end.

The NZD is S1 and AUD is W2 on the day traders tables suggesting the market could move lower. 

The 24th October was the last time this currency pair featured on the trading tables. The tables highlighted short opportunities and the price has since moved 600 pips lower. 

Looking at the chart we can see the price is coming into some key levels of support which may be targets for traders already short in this downward trend. 

Taking profits on a trend move like this will see the price rise in the short term, which in turn could bring the price into resistance for further trend trading opportunities.  

Technical Observations

  • The AUD is W2 and NZD is S1 on the day traders table. 
  • The price has been in a long term downward trend since the beginning of September 2022.
  • The monthly chart shows the price has been in a range since 2014 between the 1.1450 highs and 1.0050 lows.
  • Within this range the price has formed a bearish trend.
  • Price has now reached multiple levels of support which includes, trendline support and horizontal support. 
  • Trend traders need to wait for the price to move higher towards the recent swing lows at 1.0750. 
  • This level could act as resistance for trend continuation opportunities.

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