AUD/NZD is in a bearish environment and p[rice has moved to breakeven. AUD/NZD positioning data favours a longer-term bullish outlook. AUD/NZD price action is behaving appropriately in accordance with the weekly and daily charts, and analysis represented in the original article which can be read here: AUD/NZD Price Analysis: Sell limit order at 1.0889 for 1:3 R/R Original daily chart analysis The market was expected to melt in a wave 3 to prior resistance structure. The set up was established on the 4-hour time frame. The market has moved to create a new resistance structure which is expected to protect the entry price. The stop loss can be now moved to breakeven as follows: As it stands, the trade is now risk-free and offers a risk to reward ratio of 0:3. However, according to CFTC positioning data ending 8 September, NZD has dropped some of its net-longs, with the trigger possibly having been the reiteration of RBNZ Governor Orr of his openness to further easing monetary policy. While the spot market is a totally separate market to futures, the data at least supports a medium-term bullish view that fits the narrative of the longer-term charts. A longterm analysis offers prospects to 1.1120 once the weekly correction is done. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 top movers: Energy stocks surge higher on crude oil rally FX Street 2 years AUD/NZD is in a bearish environment and p[rice has moved to breakeven. AUD/NZD positioning data favours a longer-term bullish outlook. AUD/NZD price action is behaving appropriately in accordance with the weekly and daily charts, and analysis represented in the original article which can be read here: AUD/NZD Price Analysis: Sell limit order at 1.0889 for 1:3 R/R Original daily chart analysis The market was expected to melt in a wave 3 to prior resistance structure. The set up was established on the 4-hour time frame. The market has moved to create a new resistance structure which is expected to protect… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.