Risk 0.66%
Trade can be taken at any time
Long Trade 1
Buy the AUD/NZD pair at 1.0675
Set stop loss at 1.0625
Take profit at 1.0740
Should be in congruence with strengthening gold market
AUD/NZD Analysis
During the day on Monday, we saw fairly significant strength in the AUD/NZD pair, as we reached above the top of the shooting star from the Friday session, and of course continue to recognize the 1.08 level as supportive. Keep in mind that the Australian dollar is highly sensitive to gold markets, so it would make it even more interesting to go long of this market if gold starts to rally, which it did attempt to do during the course of the session on Monday. Ultimately, we have seen quite a strong move higher, so at this point in time it appears that the longer-term direction will continue.
