AUD,NZD/FXWW News/Trade Ideas

AUD/NZD: Prefer to play from long side today ahead of RBA

  • Like I mentioned below, current moves in the FX market are being driven by positional liquidation;
  • The market is short of AUD/NZD and there is no major technical resistance until 100 pips higher at 1.0910/20;
  • With the RBA decision due early this afternoon, might we get a short-squeeze?

I prefer to play the cross from the long side ahead of the RBA.

  1. Hi Sean
    I think it will be interesting to see if we can hold erjy at 136.50. I saw that a couple of days ago it is for medium term develoment, 120 day ma and it was holding a couple of times since oct 2012. If we brake than we could maybe brake also the 200 dma and come back to 125 or even 120.
    What do u think about that

  2. Hi Peter, good to hear from you again. To be honest I have not been trading it and have no strong feel but the level that sticks in my head is 13550, which stalled it on way up and then we accelerated after it broke. If it gets back below there then 131.50 becomes the target. Certainly 125 then is not out of the question

  3. Maybe u will be right with 135.50, but 120 or 125 would give us a good opportunity to go long there for another very long run to the upside as by then most shorts will have given up and nobody wud trust for a new run on the upside 🙂

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