AUD/NZD: Still long and still liking the look of this pair
For me the AUD/NZD has always been a classic range trade in the long-term; buy it under 1.10, sell it above 1.35, and stay out of it around 1.20. I can’t see any reason to change this long-term view so I’m happy to stick with my long position from a few weeks ago and look to trade it if the opportunity arises. My target is 1.15 and I will look to add to the position if something happens to alter the market’s bearish AUD and/or bullish NZD stance.
If it starts trading below 1.0700 again then I will have to re-assess very quickly.