AUDNZD range with possible breakout

AUDNZD has now been ranging for the last month more or less without a clear direction. It has hit resistance and support but able to create new lows and new highs but pushed back in. A breakout of this box can create a nice opportunity if the breakout is to the topside. A breakout to the downside is just a move into concrete floor of resistance without new lower lows since April 2015. It's possible for it to go down but it's not likely stay for long before being pushed up into the yearly range.

This pair i will just watch for some time then leave if nothing happens. It is possible to trade the range, but i'm not a range trader.

The high impact news for the coming week:
On AUD it's the Reserve Bank of Australia 's Cash Rate Target decision on Tuesday 4th of July

Trade only the trades you are most comfortable with. The price action tells you a story, you just have to listen!

Trade attivo

Trade chiuso: obiettivo raggiunto