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AUDNZD Opening Range Trade Idea

The AUDNZD price action from last friday shows that it is within a range. The strong US Jobs number caused increased volatility, but no break out either way.
Currently it has left the pair in a range. To the upside, Daily resistance comes into play at 1.0837. To the downside, 15min support zone shows in 1.0788-1.08 area. There is nice confluence at the 1.0788 area offering a buying scalp to resistance at 1.0837
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AUDNZD Returns the Daily Trendline

The AUDNZD has had a trendline in play since Jan 2014 that has had a significant impact on price on every touch. Once again, the pair is pushing up against this trendline and did not manage to clear in todays session.
A push lower from here can likely send the pair down to the yearly support level which comes in at 1.0525
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AUDNZD Daily Trendline in play once again

The AUDNZD has been quite strong for the month. Fundamentals are playing a great role with the RBNZ having recently released a statement that strongly suggests a rate cut in the near future, while the RBA statement did not sound like any further cuts were upcoming after having just cut rates at the last rate decision.
The AUDNZD has ralied since late April, and is up nearly 400 pips in a move that saw a minimum amount of retracements.
In the past week, we've seen the pair restest a Daily Trendli…
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AUDNZD to pullback after 3 waves up

The AUDNZD shows a 3 wave corrective structure to the upside
AUDNZD - Daily Wave count

  • The current area marks a Fibonacci confluence that is an ideal place for the C wave to end.

  • The pair can be correcting this recent move to the upside in the Month of September.

Using Fibonacci Retracements & Support levels, we predict a target as indicated by the chart below.
As per the weekly chart above, we see that the area that marks 50% of the retracement (1.0840) of the move to the upside shows previ…
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Jignesh avatar
Jignesh 3 Sep

The pair is sitting right up against the 1.1185 resistance at the moment.  But has not managed to breach it as of yet.  This area will  need to hold for the downside to get started

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Jignesh 22 Sep

After making a marginal high above the area predicted, the pair has been pulling back and has already traded past some key support levels.  The pair is currently sitting at 1.0931, which has heavy support as the 100 Daily MA resides there, a 61.8 Fib extension of the first leg down as well as previous support as noted in the daily chart.  This area can trigger a larger pull back in which case the targets may not be met as we close in on the end of the month.

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Jignesh 25 Sep

The support level mentioned in the previous comment did hold.  And then the RBA Gov Stevens pushed the AUD even higher.  Currently at 1.1040 facing resistance.  I do expect another leg of weakness in the pair.  If this area holds, there is still a possibility of reaching targets

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Trade setups - AUDJPY, USDSEK


I've been looking at the AUDJPY & USDSEK for some possible entries all week. Seems like the last 24 hours was very volatile and is offering many decent setups. I like these ones because there is already a clear trend.
The first setup is the AUDJPY, where I'm looking to buy the pullback. As per the 15min charts below, there are two different wave counts that I'm looking at. The second chart is the alternate count which is in play as the first count has already been invalidated. I put my ent…
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alcatraz avatar

Thanks for your comment. I think also your good in depth analysis is working out nicely.

Jignesh avatar
Jignesh 9 May

Thanks alcatraz .. Holding the levels so far!

khalidamassi avatar

Wonderful analysis, go ahead

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