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Short

forexTrdr AUDNZD- SHORT SQUEEZE COMPLETED- TIME TO FALL BACK

FX:AUDNZD   Australian Dollar / New Zealand Dollar
Afternoon traders,

Looking at another great setup this time in Aussie Dollar versus New Zealand dollar which spiked overnight as the Aussie central bank cut rates but then indicated that was them finished cutting rates causing a short squeeze in this pair up towards the 100 day moving average around 1.05 where it has lost steam in moving higher.

Having watched this pair since the London open to see if it is finished squeezing higher we now see it as a great time to enter a short looking for the pair to pull back to yesterdays 1.0420 area and potentially lower.

Our trading view highlights the descending trend line that has held and the overbought nature on stochastics both making this a great level for entry and a clean trade to understand.


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Good luck trading

from the Team at forexTrdr
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