AUDNZD Technical + Fundamental Align for DownsideToday I want to analyze a short position on the AUDNZD ( OANDA:AUDNZD ) pair, first, let's look at it from a fundamental analysis perspective .
Fundamental View on AUDNZD
Key reasons to short AUDNZD:
Australian weakness:
Recent data show weakening consumer sentiment and declining building approvals. The RBA seems hesitant to hike further, putting pressure on the Aussie.
New Zealand resilience:
The RBNZ maintains a relatively hawkish stance. Inflation is still a concern, and the central bank is committed to keeping rates high, supporting NZD strength.
Monetary policy divergence:
The divergence between RBA’s dovish stance and RBNZ’s hawkish approach supports further downside in AUDNZD.
----------------------
Now let's take a look at AUDNZD from a technical analysis perspective on the 4-hour timeframe .
AUDNZD is currently trading in a Heavy Resistance zone(1.0963 NZD-1.0870 NZD) near the upper line of the Range Channel , Potential Reversal Zone(PRZ) and Yearly Pivot Point .
In terms of Elliott Wave theory , AUDNZD appears to be completing microwave B of microwave Y of the main wave 4 .
I expect AUDNZD to drop to at least 1.0904 NZD(First Target) based on the above explanation .
Second Target: 1.0886 NZD
Note: Stop Loss(SL): 1.0963 NZD
Please respect each other's ideas and express them politely if you agree or disagree.
Australian Dollar/New Zealand Dollar Analyze (AUDNZD), 4-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
