buy now or wait for breakout of resistance
AUDUSD and NZDUSD are both commodities currencies and they tend to move in tandem. That means, when AUDUSD is up, so is NZDUSD.
With China's economy recovering now, the commodities currencies that are dependent on it will also benefit. Therefore, we can easily conclude traders will long AUD and sell JPY thus we long AUDJPY.
With China's economy recovering now, the commodities currencies that are dependent on it will also benefit. Therefore, we can easily conclude traders will long AUD and sell JPY thus we long AUDJPY.