My long position is looking a little more secure this morning and hopefully a base starts to form now above .8400 and I can start building from here.
- Prices poked back above the 200-dma again but just marginally failed to close above there;
- AUD/NZD has again failed to convincingly re-take 1.1000.
Definitely not out of the woods yet and a I suspect that there will be a few more downside tests but all-in-all I’m starting to feel quite confident about this trade. I will also use any 70/80 pip intraday rallies to book partial profits and then slip into dip-buying mode.