Long AUD/NZD

13 thg 8, 2020

Have entered long at market as I expect the AUD to remain supported today after a good jobs report from Australia and also further negative comments from the RBNZ including an economists stating they would like a weaker NZD. Markets have potential to be risk on and this normally also supports the Aussie more than the Kiwi.

Will look to add to position on a pull back to 1.9000.

The pair is pressing fresh highs.

2 thg 9, 2020

Ghi chú

Pair has reached 1.0900 and carried on through. Not prepared to add to this position again at the moment as it has cleanly broke through with a bit of momentum.

Next stop to consider a buy would be 1.0800. The lower the better as I am now sitting on a £6 loss over two positions. To get a good price on the third position would be good. This would average my price down to around 1.0890.

If we roll through 1.0800 then I may be in a bit of trouble.

Fundamentally they both have opposing monetary policy outlooks so it should be biased to the upside.