The technical picture indicates a high probability set-up toward .6000. It also indicates a strong bottom at .6000 - .6100. Additionally, looking at the AUDNZD, GBPNZD, EURNZD crosses indicates that New Zealand is among the weakest currencies going forward. Structural upside break outs have occurred against a long term down trend in each of the three mentioned NZD crosses. I am short the New Zealand dollar against all major currencies and it represents my largest currency position.
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IvanLabrie
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I don't think it'll fall so far. Not without a significant retracement before that.
Lanmar
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We will see. You should hope it does, as I do, for it will present a tremendously better opportunity than buying it here or staying short. 60 - 61 would be major bottom with excellent probabilty and R/R. GL
I don't think it'll fall so far. Not without a significant retracement before that.