Another example of how I like to concentrate on a few trades and try to catch the ebb and flows intraday.
AUDNZD is not one off the more widely traded / or popular crosses. Being awake (most of the time 🙂 ) and able to trade during the Asia session, it has become one of my favorites and will always have a place on my screens.
It can be a slow mover at times yet is often a great proxy to trade off against news between the opposing spot instruments. An alternative to playing them against the USD, and often a good hedge if you are inclined towards a bit of juggling along with your trade positioning .
My long is doing well with a few adjustments to bank some profits along the way. Not much to add or say at this point that I haven’t already said in my previous posts — here and here . The 38.2% of the December highs to lows is the next target and could run into some traffic here. Still a dip buy in my opinion .
Mondays chart below
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