+540 Points Reached in AUDNZD after making a correction from the lower high of the descending channel

AUDNZD Analysis

AUDNZD is making a correction from the lower high of the descending channel and the horizontal resistance area.

After the confirmation of downtrend movement, AUDNZD sell signal given.

540 Points Reached in AUDNZD Oct14 T2 Oct15

AUDNZD reached the take profit target sucessfullly.


 

Australian Dollar: Coal prices supports AUD

Australian Dollar remains higher as Coal exports surged due to China imports once again from Australia.

AUD Coal exports surges as China imports once again from Australia

And More revenues from Iron ore last year to the Australian Dollar, and now this year coal will support Australian Dollar keep higher.

And easing of lockdown in New South Wales and Sydney makes the Australian Economy pick up, and Q4 GDP will rise in higher numbers as proper Vaccination improves in many regions.

New Zealand Dollar: NZ Business data came at a higher

New Zealand Business PMI came at 51.4 from 40.1 For September month.

This reading came after easing lockdown in Auckland from New Zealand Government.

New Zealand Dollar target of 0.74 for the rest of 2021

Now all waiting for Today US Retail sales and Michigan consumer data to come, better results will drive New Zealand Dollar to down and reverses if came positive.

And US FED waiting to taper in November, but hopes are less as this week inflation point picked up higher.

And Power plants are using Oil instead of Natural gas as its price surged higher when compared to Oil.


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