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.