Long AUD/NZD

13 août 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 sept. 2020

Note

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.