The perfect timing for this one...

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Commodity currencies are equally sensitive to global risk sentiment flows. NZD coughed and struggled to take back 0.63x however with RBNZ Nov cuts overpriced and extended I like entering NZD$ longs at market with a 0.618x stop. The same flows are in play for AUD; looking for the 0.6725 support to hold with all eyes on the employment print.

For the USD side:

Dollar Focus


For the AUD side:

PBoC put a Floor in AUDUSD (Monthly)


AUDUSD Macro Chart...ridethepig


AUD & NZD relative chart:

AUDNZD 5th wave complete...


With the break circled in red the technical damage has been done, the official breakout will come with employment data tonight. Expecting the green light to trigger immediate and direct flows to 0.687x, 0.698x and 0.708x respectively.

Good luck all those in AUD.
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First targets cleared here... well done all longs
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ridethepig | AUD Market Commentary 2019.12.17
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A quick update here as we approach the second target in this swing: снимок
audAUDJPYAUDUSDaustraliaBeyond Technical AnalysisChart PatternsEURAUDfedGBPAUDRBATrend AnalysisUSD

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