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We’re all about NZD today with not one, but TWO long-term trade setups!

Think you can spot opportunities from NZD/JPY and AUD/NZD’s daily time frame charts?

Check them out!

NZD/JPY: Daily

NZD/JPY Daily Forex Chart

NZD/JPY Daily Forex Chart by TradingView

First up is a nice and simple trend on NZD/JPY’s chart.

See, the pair is about to hit the 82.00 psychological handle that lines up with a channel support that’s been holding since mid-2022.

If the current candlestick‘s long wick is any clue, NZD already has buying interest even before it hits the channel support zone.

Will we see NZD/JPY extend its lowkey uptrend?

Buying at current levels or at the first signs of bullish momentum would yield a good risk ratio especially if NZD/JPY jumps back up to the 88.00 previous resistance area.

If you see NZD/JPY extend its downswing, however, or if the 100 SMA starts crossing below the 200 SMA, then y’all should be ready for the uptrend possibly ending and sending NZD/JPY to the 80.00 psychological handle.

AUD/NZD: Daily

AUD/NZD Daily Forex Chart

AUD/NZD Daily Forex Chart

Who’s up for a retracement trade?

If you are, then you’ll want to see AUD/NZD fast approaching the 1.0850 level that lines up with the 38.2% Fibonacci retracement of late 2022’s downswing.

A rejection at the Fib and previous resistance zone would support the 100 SMA crossing below the 200 SMA and hinting at a bearish trend.

AUD/NZD could dip back to its 1.0500 lows or even head for the 1.0300 lows seen in 2021.

If AUD/NZD extends its upswing instead, it could test the 1.1000 area of interest before seeing enough sellers.

In fact, AUD buyers and NZD sellers can take advantage of AUD/NZD’s bullish momentum until the pair sees enough selling pressure near the resistance points that we’ve highlighted.

Good luck and good trading this one!