AUDNZD

Interesting looking weekly chart for AUD/NZD.

Is it the time to sell? I believe i found a correct bearish orderblock

What do you think about AUDNZD?

NZD current account was better than previous month but worse than expectation.
AUD new home sales also continue to decrease.

I guess AUDNZD will be going down, but I am not sure.
It is stick around 1,1215 now and I hope it goes to kiss 1,1170

What are your opinions?

It will definitely be worth keeping on as this pair as it currently retest the resistance that seems to have formed just above 1.2500 in the last couple of weeks.

Key economic data from both countries today support continued policy tightening from their respective central banks, so it will be interesting to see which currency the market favours against the other. The Australian economy does look relatively stronger at the moment, and with the RBA expected to continue tightening into restrictive territory, AUD/NZD could be supported towards its 2017 highs.

However, all trading carries risk, and with the pair looking somewhat overextended at its current levels, the better-than-expected GDP data from New Zealand could help sustain a deeper pullback before a new leg lower.

Steep losses for AUDNZD so far today after the RBNZ announced their fifth straight 50bps rate hike, while RBA slowed the pace of their hiking cycle yesterday. The pair is currently retesting the uptrend support stemming from mid-August, as well as former resistance just below 1.1260.

All trading carries risk, but it will be interesting to see if buyers step in around this key level, or if the central bank divergence sparks a downward breakout for the pair.

Interesting looking chart for A/N. I'd say this trendline on the daily chart is significant.

There has already been a trendline break higher up, the MA's are pointing down, the oscillator rolled over to down, what more do you need?

However, I could be wrong, but not with hindsight of course

Here is how it is looking

An update, the trend rolls on

OMG. this thing just keeps rallying. Out of nowhere.