AUD/NZD: Consolidation range 1.09/1.13 still in control

Nice call in AUD/NZD from Morgan Stanley last night to buy the dip ahead of the milk auction, and it turned out nicely with prices bottoming ahead of the consolidation-range base at 1.0900. The overnight lows were around 1.0935 and buying dips back towards this level over the next few sessions makes good sense, with technical and fundamental factors playing in your favour.

As we know, the trade idea itself is much less important that how you trade it but if you can enter the market at the correct levels, it does make life a lot easier.


Leave a Reply

Your email address will not be published. Required fields are marked *