AUDNZD Weekly

Good Afternoon Dynamic Traders

I trust you're having a good trading week so far. This week is filled with high impact news, including NFP, so my agenda is to manage my existing positions and nothing more. My preference is to wait for the dust to settle after NFP on Friday, stay out of the NFP frenzy and then analyse charts with a fresh pair of eyes.














I want to bring your attention to the AUDNZD Weekly chart. This timeframe clearly highlights the big picture with this pair - there's a major resistance at 1.3000 level and price is being supported by a upward TL. As you can see, buyers have control so far this week - although this could easily change, especially with the volatility of NFP. Come end of trading week, we may have a clear BOB to reckon with. There are also additional confluences with some candlestick formations at the TL support. Should there be a price BOB we may see a continuation with the minor uptrend.

I'm intending to trade the Daily chart should this happen, but with price at such a critical level I'm playing safe by waiting patiently for bullish confirmation on the weekly timeframe.

Great trading!
Sonia Molina