An interesting chart
The nzdusd has broken strongly out of its trendline, while the audusd has not. This has translated into huge losses for the pair in past week. Does this mean that the dynamics of the pair is going to change? Interestingly, the BOA is not any more hawkish nor dovish than BNZ in their statements. However, NZ has produced stronger growth data in recent weeks.
The pair is nearing its long-term trendline. A break below this trendline will indicate weakness in aud and strength in nzd, and i will be using this idea to look for currency pairs or hedge my positions.
Those that are looking for bounces can do so, but be aware that there's no strong support below, so put a tight stop
The pair is nearing its long-term trendline. A break below this trendline will indicate weakness in aud and strength in nzd, and i will be using this idea to look for currency pairs or hedge my positions.
Those that are looking for bounces can do so, but be aware that there's no strong support below, so put a tight stop
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