Commodity currencies are equally sensitive to global risk sentiment flows. NZD coughed and struggled to take back 0.63x however with RBNZ Nov cuts overpriced and extended I like entering NZD$ longs at market with a 0.618x stop. The same flows are in play for AUD; looking for the 0.6725 support to hold with all eyes on the employment print.
For the USD side:
For the AUD side:
AUD & NZD relative chart:
With the break circled in red the technical damage has been done, the official breakout will come with employment data tonight. Expecting the green light to trigger immediate and direct flows to 0.687x, 0.698x and 0.708x respectively.
Good luck all those in AUD.
For the USD side:
For the AUD side:
AUD & NZD relative chart:
With the break circled in red the technical damage has been done, the official breakout will come with employment data tonight. Expecting the green light to trigger immediate and direct flows to 0.687x, 0.698x and 0.708x respectively.
Good luck all those in AUD.
Trade active
Comment:
Trade closed: target reached:
First targets cleared here... well done all longs
Comment:
Comment:
A quick update here as we approach the second target in this swing:
