NZD: Crosses suggest more gains ahead
- We had a look earlier this week at the bullish set-up in NZD/CHF (see story) and the cross is already 100 pips higher from there.
- AUD/NZD is in a solid downtrend and technical/psychological resistance at 1.2000 is now looking formidable.
- NZD/USD is in a long-term sideways pattern and is starting to near ‘cheap’ levels.
It’s a matter of picking your poison here, with AUD/NZD looking like the safest bet, but overall I really like the NZD at current levels. There is trade data out later this morning so medium-term positioners so stay away until that event is out of the way.