Today’s decision of the Bank of Australia did not shake up the markets too much, but the AUDNZD broke above an important level. The pair from June 28 was within a fairly narrow range between 1.0845 and 1.0980. The last dynamic bullish candle has broke through this second level. Perhaps it will be a good opportunity to enter long.
To use the analysis and invest on EURCAD, check the offer of the HotForex broker
After AUDUSD grew dynamically from 1.0660 to 1.0980 in the last two weeks, the pair was in consolidation. It bounced from the mentioned levels several times. Only after the decision of the Bank of Australia there was a real break out. The price is currently at the level of 1,0990, it has a chance of big increases.
If we look at the wider sentiment, we will see that the first target for bulls will be around 1.1115, where in the second half of 2017 the reaction of sellers took place several times. The next goal may be around 1,1250, where pair the last time was in October 2017.
