IN our free forex signals pair today, we have the AUD/NZD instrument. We have the entry price, stop and take profits levels for our buy order. Learn2trade in-house trader Olimpiu Tuns provides a video explaining the buy setup for our AUDNZD signal. The pair has been pressured lower since the middle of last month. That’s partly because of the Covid situation. The Aussie dollar has been struggling of late as the Covid pandemic makes itself felt yet again. Lockdowns are back in New South Wales and elsewhere, so that the majority of the country’s population is now under new restrictions to control the spread of infections. Analysts at Westpac Banking Corp think that the pair could have lower to fall, perhaps coming to rest around the 1.06 level this month. However, by year-end the economists expect AUDNZD to be priced at 1.09 by end-2021. Australia v China tension continues “Near-term risks remain negative, with RBA vs RBNZ trajectory, and trade and political tensions between Australia and China, weighing on the cross and dominating Australian commodity outperformance.” “There’s potential for a decline towards 1.06 during the month ahead.” The analysts see strength ahead for the Aussie v the NZ dollar on the basis of the Chinese economic resurgence benefiting Australia more than it will the New Zealand economy. “By year-end, though, we expect to see it higher at 1.09+. Elevated global risk sentiment (amid vaccine deployment) and solid growth in China should benefit the AUD more than the NZD.” Get FREE Forex Signals Now! AUDNZD technical analysis – short-term buy opportunity at 1.05-1.07 However, after retesting the upper middle line of the pitchfork the pair may be looking at an upcoming bullish reversal at around the 1.07 to 1.05 level and is currently located above the 50% retracement level. So for those looking to do some forex trading we see a new swing higher on the 4-hour chart. On the 1-hour chart there’s support at 50% retracement and at the mid line of the ascending pitchfork. As long as the price stays above the lower mid line of the ascending pitchfork it could see an upside movement over the short term. By the way, if you want to get a machine to do your trading for you, then you might be interested in our guides to Forex Robots. For more details on the technical analysis behind today’s signal, watch the video below: Free forex signals – Buy AUDNZD Instrument: AUD/NZD Order: BUY STOP Entry price: 1.0725 Stop Loss: 1.0697 TP1: 1.0776 Recommended Risk: 1% Risk / Reward Ratio: 1:1.7 Signal validity period: Good until cancelled Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Gary McFarlane Gary McFarlane Gary was the production editor for 15 years at highly regarded UK investment magazine Money Observer. He covered subjects as diverse as social trading and fixed income exchange traded funds. Gary initiated coverage of bitcoin and cryptocurrencies at Money Observer and for three years to July 2020 was the cryptocurrency analyst at the UKâ€™s No. 2 investment platform Interactive Investor. In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun. Gary has also written widely on cryptocurrencies for various industry publications, such as Coin Desk and The FinTech Times, City AM, Ethereum World News, and InsideBitcoins. Gary is the winner of Cryptocurrency Writer of the Year in the 2018 ADVFN International Awards. View All Post By Gary McFarlane Forex Trading Signals share Read Next Cardano Price Forecast: Static But Looking To Regain Lost Territory Gerald Fenech 5 months IN our free forex signals pair today, we have the AUD/NZD instrument. We have the entry price, stop and take profits levels for our buy order. Learn2trade in-house trader Olimpiu Tuns provides a video explaining the buy setup for our AUDNZD signal. The pair has been pressured lower since the middle of last month. That's partly because of the Covid situation. The Aussie dollar has been struggling of late as the Covid pandemic makes itself felt yet again. 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