AUD,NZD/EUR/USD/Flows and Orders/FXWW News/Trade Ideas/USD/JPY

Modest gains in NZD, AUD but quiet otherwise in Asia

I think the basing in the NZD is an important development which could have implications for other pairs. NZD/CHF has bottomed out at an important Fibo retracement, AUD/NZD looks toppy now at 1.2000 and the NZD/USD made decent gains after poor-ish trade data, usual signs of a bottom.

The cable also looks reasonably strong after basing at a 6.8% retracement, and that after a double-bottom formed. I’ve added to my small long-term long position.

Not sure on EUR, but I think the banking reforms might be important in that they could start to drive savings out of the EZ and into the GBP or the CHF? EUR/USD looks and feels like a sideways non-event.

USD/JPY looks to be in range trading mode across all timeframes.

Finally, I’m still long AUD/USD and will look to trade a short-term .9260/.9360 range on the way to .9625/50.

 

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