AUD,NZD/FXWW News

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.

  1. Totally agree on the long term view Sean .There is a big nice monthly candle rejecting 1.05 ( 1.0490 ) a setup which worked very well in the past , but since it failed to break above 1.0920 resistance i’d expect it to retrace lower on short term. Levels where I will look to buy are around 1.07 and 1.0650 . Only a break below 1.05 would be a reason to panic. Anyway , in case of a serious risk -off move ( which i expect any day now from China maybe ? ) my view is that the kiwi will get hit harder .

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