On Tuesday, I wrote about breaking by AUDNZD a significant resistance at 1.0980. I advised waiting for the retest of this level and subsequent entry into the position. However, I did not take into account that the RBNZ decision on the monetary policy of New Zealand will take place tonight. The dovish central bank message made the price of the currency pair to grow rapidly and reached above another important level.
I was unable to enter the recently proposed position. In fact, it would not be a good decision before the RBNZ meeting, because you could expect greater volatility in the markets than usual. However, if someone entered the market, could have even post 150 pips of profit.
The price is currently above the resistance at 1.1115. In the near future I would rather expect a supply reaction, we will see if the breakthrough level will work as a new support. Another significant resistance is in the vicinity of 1.1250, where the price was the last time at the end of last year.
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