NZD/USD Rocketed. Is Rally Over?
The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
AUD/NZD is down after RBA
2019-11-11 • Updated
Trade idea
SELL 1.0745; TP 1.0710; SL 1.0760
AUD/NZD has once again turned down from 1.0800 (the 61.8% Fibo of the 2018 decline) as the AUD got hit by the RBA’s decision to cut its interest rate. The near-term support is at 1.0750/45. The fall below this level will bring the pair to 1.0710. This is just above the 100- and 200-week MAs, so it’s too risky to bet on a bigger decline.
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