AUD/NZD to move up in April

31 thg 3, 2019

After ECB & FED turn dovish mentioning global slowdown, RBNZ had no option except signalling next move to be rate cut. RBA have already been pretty dovish helping AUD/NZD to touch monthly lows in JAN - MAR. AUD/NZD finally been able to close above daily 20sma, also forms good bullish candle on monthly chart. AUD/NZD seems ready to rally in coming days/weeks. Risk remain RBA meeting on Tuesday if they announce rate cut coming sooner than later, but that will ultimately provide better rate to buy AUD/NZD. Support remain psychological area of 1.04 & 20sma near 1.360. Target to focus are 1.0490 to 1.05(daily cloud & daily 100sma) followed by 1.06 & 1.0650 .