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AUD Seems To Be Advancing Against GBP, CHF and NZD

Authored by TD Markets
29.08.2023
Technical Analysis
0
3 min
AUD Seems To Be Advancing Against GBP, CHF and NZD

The Australian Dollar (AUD) has recently shown noteworthy strength in the complex world of global currency markets, setting itself for gains versus the British Pound (GBP), the Swiss Franc (CHF), and the New Zealand Dollar (NZD). This essay digs into the variables that are driving these moves and considers the ramifications for traders and investors.

The AUDNZD Performance

We were looking for a daily period near above 1.08621. It did so yesterday, so traders may begin searching for an entry by scaling from the lesser periods and potentially waiting for another daily timeframe to close for a stronger follow-through. The price target of 1.10273 remains unchanged. Please keep in mind that this is not advice, but rather assistance that might help customers make better-educated decisions on their own.

AUD Seems To Be Advancing Against GBP, CHF and NZD

The AUDCHF Performance 

We've been watching for a retracement. We stated last week that we might only see the remainder of the setup play out at the start of the week and then move from here. The price point of 0.57572 the target. Please keep in mind that this is not advice, but rather assistance to help customers make better-educated decisions on their own.

AUD Seems To Be Advancing Against GBP, CHF and NZD

The GBPAUD Performance 

Our monthly candles reveal that the price is now in a bullish trend. The daily detail of the momentum appears to be retracing to a few levels below, presenting traders with a short opportunity. Note that this is a short on the present drop, not the overall upward momentum; traders should be wary of this. 

The daily period is below the price point of 1.96316. The price point 1.93969 has been chosen as the target. Please keep in mind that this is not advice, but rather assistance that might help customers make better-educated decisions on their own. Risk management must be strictly enforced.

AUD Seems To Be Advancing Against GBP, CHF and NZD

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Final Thoughts On Today’s Analysis 

Finally, the Australian Dollar's rise versus the British Pound, Swiss Franc, and New Zealand Dollar demonstrates the currency's sensitivity to market dynamics and shifting investor opinion. While these movements present possibilities, market participants should proceed with prudence, do extensive research, and stay flexible to changes in the currency landscape. Watch our YouTube channel for more analysis.

Authored by TD Markets
29.08.2023
Technical Analysis
0
3 min
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