It’s all about the Kiwi on today’s playbook, as we take a look at AUD/NZD’s mid-channel bounce and NZD/JPY’s rising channel support. Think you can make pips from these trends?
NZD/JPY looks like it’s bouncing from just above the 80.25 handle, which isn’t surprising since the area lines up with a rising trend line that has been an area of interest since late December.
With stochastic hinting of a possible bullish divergence, you can bet that bulls and bears are already watching this one.
Will Kiwi bounce back to its 81.00 previous highs? A long trade at current levels could yield you a decent reward-to-risk ratio especially if you place your stops just below the rising channel. Just make sure you practice good risk management practices, aight?
Remember that mid-channel bounce that we looked at a few days back? Well, it looks like it’s shaping up pretty nicely!
AUD/NZD has just bounced from the 1.0850 levels and it looks like it’s on its way to 1.1000 or even its previous highs near 1.1200.
Stochastic has just left oversold territory, so y’all still have time to jump in and get a pip or two (or fifty) from a possible continuation of the move.
Keep in mind that there are a lot of areas of interest waiting around the 1.1000 – 1.2000 psychological handles, so get ready to be flexible with your exit plans!