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LONG DXY/ USD VS GBP: HAWKISH FOMC LOCKHART SPEECH HIGHLIGHTSFOMC Lockhart was the 4th Fed this week to imo be relatively Hawkish with his words, most notably reinforcing with the others brexits near-term stability saying "Doesn't Expect 'Brexit' to Have Near Term Impact on Economy" and " So Far 'Brexit' Reaction Largely Orderly". Most interestingly though was Lockharts view on the FOMC's positioning for future rate increases, saying "Won't Rule Out Two Rate Rises This Year" - which is extremely hawkish given most expect 1 at the most.. Back up this sentiment by insisting that the Fed is "Fed Not Behind Curve, Has Time to Decide on Next Rate Move". Nonethless Lockhart did somewhat contradict his "rate expectations" by saying "Time for 'Cautious and Patient Approach' to Rate Policy" which surely shouldn't be the case if 2 hikes are coming - that would be on the aggressive side. All in all, Lockharts comments go hand in hand with my Bullish medium term USD/ DXY view (see previous articles) - I like the USD vs EUR, JPY, GBP, AUD, NZD in the medium term so long DXY/ USD is favoured, even more so if 2 rate hikes were to be realised this year. At current levels short GBPUSD is my favourite expression FOMC RATE HIKE IMPLIED PROBABILITIES - On the likelihood of rate increases, in the past 24 hours, from the Federal Funds Rate implied probability curve we have seen rates/ probabilities firm after yesterdays "risk-break" recovery, with a 25bps September/ Nov hike steepening to 17.2% from 11.7%(Wed), and Dec setting new highs at 35.9% from 29.5% (Wed) - Dec also went on to double the probability of a 50bps hike to 5.1% vs 2.8%(Wed), giving Lockharts comments some weight. FOMC Lockhart Speech Highlights: -Fed's Lockhart: Fed Not Behind Curve, Has Time to Decide on Next Rate Move -Lockhart: Time for 'Cautious and Patient Approach' to Rate Policy -Lockhart: So Far 'Brexit' Reaction Largely Orderly -Lockhart: 'Brexit' Will Increase Long Term Uncertainty -Lockhart: Doesn't Expect 'Brexit' to Have Near Term Impact on Economy -Lockhart: Bond Market Yields Largely Reflect Flight-To-Quality Buying -Lockhart: Too Soon to Say 'All Clear' for Financial Markets -Lockhart: 'Brexit' Not a 'Leman Moment' -Lockhart: Still Expects U.S. to Grow by 2%, Expects More Job Gains -Lockhart: Economy is 'Performing Adequately' -Lockhart Says Fed Has Time to Decide on Next Rate Move -Fed's Lockhart: Presidential Election May Be Boosting Economic Uncertainty -Fed's Lockhart: Won't Rule Out Two Rate Rises This Year
TVC:DXYLong
by QuantumLogicTrading
SELL NZDUSD - RECONFIRMED BY 12M HIGHS? CPI PRINT EYED CLOSELYAlso as additional technicals to support the short NZD$ view: 1. On the daily and NU currently Trades close/ at to its +2 standard deviation lines, these are highly resistive. - Assuming NU trades mean reverting +2SD means there is a 95% chance of a price reversal/ 95% of all prices should be below the +2SD channel lines (e.g. NU highly likely lower from here). -- And as you can see by the Yellow circle highlights NU has held this +/- 2SD discipline in the past so is highly likely to maintain these levels in the future. 2. Also NU trades significantly above its 60, 120, and 250 Moving Averages on 1h, 4h, 1D, 1wk - this also signals strong overbought prices, where selling has a higher probability of success. 3. NZD$ looks to have confirmed the 0.73 12 month high level as resistance - strong pivot point. 4. The strong 100k+ print beat from NFP last week imo didnt price much into NZD$ downside at the time, however given the reaction in the Fed Funds rates market, it may be pricing now as the market now implies a 25bps hike at 5.9% Sept/ Nov vs 0% prev, 22.5% Dec vs 18.5% prev - 50bps hike 1.1% vs 0% - also the probabilities of cuts all fell significantly across the curve. 5. Risks to the view continue to be a hawkish RBNZ - as we saw last week the short played well but was undermined at 0.70 when RBNZ speaker highlighted the HPI issue and inferred the cut may not happen in Aug as a result (Hence the recovery back to 0.73). - The rate cut went from 80% to 50% on the back of these comments imo - now NZD CPI inflation and employment readings in the coming 30 days serve as the determinant of their Aug decision, a flat or miss CPI print will likely mean the RBNZ will cut 25bps (CPI is the no.1 target), so beyond the 0.73 level resistance we look for certain confirmation in the CPI reading, though it will be difficult to know what the market is thinking/ to get ahead of the market in the lead up, where the short was a giveaway before the RBNZ's new comments were on the table. - Also on this point it is worth noting that given many of the worlds CBs have shifted to a dovish tone in light of the brexit vote (e.g. RBA BOE BOJ FOMC) this indirectly puts pressure on RBNZ to cut as Kiwi/ NZD will continue to appreciate causing disinflationairy pressures/ brakes to continue on the nzd economy, thus we also carry positive upside given the worlds policy positioning at the moment. Trading Strategy 1. Sell @0.726 TP 0.702 SL 0.732 - More aggressive shorts may be added if confidence in a cut is higher - a cut will send NU down to 0.67 at least for example. *Be sure to check the attached post "SELL NZDUSD @0.73 - TP 700PIPS: BREXIT, RBNZ, FED & USDJPY HEDGE" for NZDUSD short fundamentals*
Short
by QuantumLogicTrading
1
RISK-ON RISK-OFF POSITIVE CORRELATION? SPX VS GOLD, JPY & UST P1The Paradoxical Risk-on/ Risk-off Asset positive correlation: 1. Risk off assets have outperformed to date, with Gold leading the gains at 28%, JPY following at 18% and US 10y treasuries Trading 16% up in 2016 - average at 20.5%. 2. Meanwhile, SPX trades 5% up since 4.1.2016 but more importantly, since 20th January lows SPX is up 15%. 3. this is significantly paradoxical, as fundamentally, Risk-on assets shouldnt trade well when safe havens do and the reverse can be said about Risk-off bull markets - Equities shouldn't trade higher. - the reason this positive correlation of both risk and safe haven assets rallying at the same is problematic is that in the long-run it is not sustainable - one MUST adjust to the downside as markets in the short-run trade as a zero sum game, liquidity is inelastic and non-infinite i.e. they cannot both keep gaining capital as there is a limit when all available liquidity is allocated. Consequently, at this point investors then have to forgo investing in one asset, if they want to speculate on another, as they dont have any new cash to invest - this is why we normally see safe havens and risk assets trade negatively correlated and price action is "seesaw" like most of the time as investors take money out of risk, for example, so they can allocate it to risk-off, as perceptions and market environment changes. Cause of the paradox: 1. An Unusual even split in investor risk sentiment e.g. in the immediate term, some believe the environment is stable enough to offer risk higher (CB easing/ support driven views), whilst others believe global risks are heightened enough to offer safe havens higher (Brexit, US election, China). Hence we see both SPX and Risk-off grow. Normally, the markets trade like herds e.g. behaviours skew to risk on or off, grouping with a strong bias to one side at the same time. This more "evenly distributed" sentiment we are experiencing rarely materialises as usually there is consensus on market risk e.g. all investors rationally agree that "now" is a highly uncertain time or the other way, given the same information is available. 2. Most likely imo , however, is that there is a short-term imbalance/ artificial risk inflation, where risk assets yet again are buoyed by central bank impetus. Following the brexit result a cascade of global CB dovishness/ support was injected into the markets providing the perfect artificial rise in equities - whilst the underlying market sentiment continues to follow the 2016 risk-off trend (as is shown by the 2016 outperformance of off (+21%) vs on (+5%), CBs have provided sufficient support to mask the risk-off bias - however it is unlikely to continue for long.
TVC:SPXShort
by QuantumLogicTrading
2
SHORT AUDUSD TP 800PIPS: BREXIT, RBA, FED & USDJPY HEDGEShort AUDUSD is in my top 3 FX Trades for several reasons: 1. AUD is considered a riskier G10 currency cross, so AUD trades weaker in risk-off markets, or when equities/ SPX trade lower (you can see the high correlation with SPX at the bottom of the graph). - With Brexit concurring last week, global risk has increased, this is especially the case for AUD due to commonwealth connections. Therefore AUD is likely to come under pressure in the future as risk-off sentiment continues to dominate, as the US Election nears, Global growth worries continue (Japan, Europe, China) and Brexit/ uncertainty about further Euro Area exits continues to intensify - we can see Gold and US Treasuries continue to gain supporting the risk-off view and thus supporting selling AUD. Also, risk-off encourages $ buying as a safe haven deposit on the Brexit backdrop. - Further, going into earnings season next week, historically risk currencies (AUD) perform poorly as investors seek safer assets to hedge against earning surprises, thus this helps AUD selling and USD buying. Plus, most investors will want to hold some $ cash in order to fulfil their earnings based equity trading, so this also helps the short AU trade by increasing $ demand relative to AUD. 2. The RBA Meeting on Tuesday the 5th is likely to be dovish, as 1) Brexit risks are weighed in on again, after supportive/ dovish statements from RBA members following the Brexit decision and 2) AUD Macro Environment has performed poorly since the last meeting and the May Rate cut e.g. Retail sales 0.2% vs 0.3%, Unemployment flat at 5.7%. - However, I dont expect an RBA rate cut, as they cut last just 2 months ago in May by 25bps to 1.75% and their GDP print was firm at 3.1% v 2.8% yoy and 1.1% v 0.8% with Unemployment also stable (yet to see inflation), so I expect them to provide reassurance to markets with a strong dovish tone, with possible hints to a August rate cut - citing Brexit and looking forward to their end of July Inflation print as a gauge for further rate cuts. Nonetheless the dovish rhetoric should be strong enough to put pressure on AUD and tip the scales south supporting the AU short. 3. From a USD demand point of view, last week we saw USD lose 160pips against the AUD as Brexit Uncertainty negatively hit the Feds Rate hike cycle expectancy, flattening the curve in the front end which ruled out any hikes until Dec or 2017, fewer hikes = less USD strength. - However, since the beginning of the week where brexit risks ruled out hikes in the near term, the end of the week managed to turn rate hike expectations around as Brexit likelihood decreased/ shifted into 2017. This helped the Fed fund futures curve recover/ steepen somewhat in the front end, with the implied probability of a hike increasing from 0% to 5.9% for both September and November, whilst the probability of a hike in December also steepened significantly from 13.3% to 22.3% with the probability of a 50bps hike being priced for the first time at 1.1%. This trend of Fed Hike recovery is likely to continue as long as Brexit risks remain subdued, so we can expect USD to begin to price stronger in the coming days/ weeks. 4. Technically, AUDUSD trades 100pips away from a key handle at 0.76xx which is a double top and may provide the ideal short area. Further, higher than that at 0.78xx is the 12 month high which is also potentially a great level to get short from as a double top 5. Volatility - 1wk, 2wk and 1m (-1.52, -1.57, -1.60) AUDUSD Risk Reversals all trade with a downside bias indicating put/ downside demand is higher than upside, so the option market net expects AUDUSD to come down over the above tenors. - Out through the 5th, 6th, and 7th (post RBA) we see large notional OTM put options and open interest at 0.7365, 0.7440 & 0.7445 which supports the view that the RBA will be dovish and that AUDUSD is likely to hairpin around the 0.76xx double top level.
Short
by QuantumLogicTrading
4
AUDUSD Rallies But Remains Technical ShortOn May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold, which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively. We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following the Reserve Bank of Australia holding their key benchmark to 1.75 percent. Unfortunately, this will be short-lived. The central bank's policy will strongly be tethered to the economic performance of China. Technically, we see price resistance at .7520 with a breakout potential to .7645 since the move does have relative strength in momentum. However, the weekly technicals still show a picture of lackluster upside potential. Intermediately, the z-score is at a very high 2.6 (+/- 2 are a great contrarian indicator). Trade posted on chart. Updates will be provided. For more information on MacroView's products, or general questions and comments, feel free to message us. Also, readers are encouraged to post their thoughts and charts!
by MacroView_Research
2
AUDUSD CrumblingAfter the FED Announcement on Friday it seems that the pair has made its gradual retracement back near the 50% of the 3rd wave after a final rally in favour of the Australian Dollar. We have a good resistance structure holding the pair from heading any higher in order for it to start its final 5th wave down towards the Feb lows. As you can see the 4th is more of a gradual retracement compared to its predecessor (The 2nd wave which was a sharp retracement) I will probably wait for the RSI to hit its own trend resistance before going on short as it may just continue to rally a bit further just before RBA Rate Decision on Tuesday morning . The technicals and fundamentals of this trade seems to line up correctly and this may just be a great shorting opportunity so Im thinking of getting in a bit earlier with a good money management. Stay tuned.
Short
by moemia
7
AUDUSD: Uptrend continuation finally confirmedWe have reentered as per my latest update in my previous publication, see related ideas. Price has expanded the daily range today, so it's clear bulls are active, and we can expect to see a very nice move to the upside. If not in, I'd reccomend rushing in with longs, stops can be under the swing low, or even under today's open. Sentiment is extremely bearish for copper and it has hit a huge support level, which translates into AUDUSD rallying as well. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Long
by IvanLabrie
8
Bearish May aftermathAfter retesting the descending May trendline on Friday, the pair closed near the 0.618 levels (0.78351-0.68270) standing at 0.72121, leaving some room for speculations over the next two weeks. Possible scenarios: 1- A continuation of the bearish May movement with 0.7110 as first target with a possible break leading to further decline towards the Grand monthly trendline (somewhere around the 0.7 mark) 2- A corrective break above the 0.7245 levels would take us to the Grey area. Short term traders would benefit from a long entry on the break with 0.73-0.733 as targets. Mind you, 2016 descending line from 0.7835 highs would be at test and it won't be safe to enter long term trades. A break above the trendline (0.733 levels) would signal an upward movement towards 0.38 fibo levels at 0.745. Failure to break above the 0.733 levels would force a retest of the broken trendline and a possible decline towards 0.7 levels. I'm bearish on AUDUSD until RBA's next meeting or a break above 0.733, whichever happens first.
Short
by Abdallah
GBPAUD: Pound/Aussie has bottomedAfter an extended decline since the 2015 high, it appears like GBPAUD has hit rock bottom. I'm long from 1.85243, and added today at 1.85526. I expect price to retest the low volume resistance at 2.00 in the intermediate term, and possibly aim for new highs if we break this level in time. If you're not in the trade, try to enter at market with a 3 times the daily ATR stop loss, and add the remaining half position if we get a retracement next week (unlikely). This type of trend reversal trade, usually involves no retracement, and people eager to 'long the trendline break retest' get left behind eating the pioneer's dust. So, be brave and buy strength! If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Ivan Labrie.
Long
by IvanLabrie
22
Copper, AUDUSD and USDCLP: intermediate term top in placeWe can look for shorts (in the case of AUDUSD might be better for wait to enter on a retracement) in these instruments. It's evident we have failed to break resistance in AUDUSD and that USDCLP is forming a nice turn at the lows in the daily, which nicely correlates to Copper forming a double top here, with plenty of downside to be seen. Clearly, bears are involved and we can take a nice position at market, with stops 1 tick above 2.301 ideally. Today's price action justifies assuming AUDUSD and its crosses have reversed for the time being, at least in the intermediate term, and it's safe to fade the recent advances in them. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Ivan Labrie.
FX:COPPERShort
by IvanLabrie
24
AUDUSD: Strong uptrendThis is an update to my previous charts on AUDUSD (see the one where I shared a long entry for this pair in particular). The newer charts have been sharing analysis on it, and other Asian and Oceanic currencies, which I see as having amazing signs of strength, suggesting we have long term trend reversals, or at least major retracements in play. There is a new mode forming as we speak, and if we close the week above 0.77102, the prospect of further uptrend continuation becomes more likely. I'm long AUD, and also long it against a variety of currencies (euro, pound, swiss franc), and I don't reccomend playing the short side in such a massive uptrend. The level above is the next 'make or break' resistance, which will open the gate for the upper 0.8-0.9 range, possibly even parity during this year. Each red line, is a vital level, that must see a close above, and then lows finding support there as we move forward, since these levels are where the sellers actively drove the pair down on multiple occasions. If not long AUDUSD, you can enter any of the pairs I listed with a 3 ATR stop loss, or look to enter with your preferred strategy. I'm in with a conservative (3 atr stop) and a more aggressive stop loss position on each of them, which suits my risk profile, and lets me keep a core position, and add, without going overboard on the initial entries. Keep in mind that the fundamentals favor a decisive moment ahead too, with a host of Chinese data coming out, as well as the IMF meeting tomorrow. Remember that a stop loss is mostly, a way of measuring your position sizing, don't disregard the importance of position sizing strategies and you'll live a happy and healthy life as a trader. The main thing is knowing when you're wrong about the trade, to exit, and knowing when you're right, to add to it and let it run. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Ivan Labrie.
Long
by IvanLabrie
4
GBPAUD: More shorts for continuationGBPAUD is tracing a nice steady downtrend, and recently has formed a nice consolidation, which has given way to a time at mode downtrend setup. We can go short here, odds are very nice and we have a lofty target to benefit from if the trade works. Entry is at market and stop losses should be 1-3 ATR, or placed above 1.85541. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Ivan Labrie.
Short
by IvanLabrie
4
USDCNH, AUDUSD and NZDUSD: Don't fade an uptrendIn this chart I break down the price action in these 3 pairs. USDCNH is in a strong 2 day chart downtrend, and about to breach a key level on chart. Once below we can see it trade significantly lower, or even go back to the start of the recent massive PBOC devaluation rally start. AUDUSD, I have covered and even given a long entry for this trend, currently not giving a continuation signal, but the rally is so strong that it has become ridiculous to attempt shorting it. Usually, when a long term trend reverses, the reversal move is so violent that leaves everyone wondering what happened, waiting for retracements that never come to join, or simply getting stopped time and time again fading it. It has broken all resistances so far, and I'd like to see a new 10 bar+ level or it moving to the weekly timeframe or a different timeframe to trade it. For now, the 2 bar timeframe has proven effective, and unsurprisingly, it's acting like CNH, gaining strength when the chinese currency does. NZDUSD, there's a huge 10 day timeframe uptrend signal that will trigger soon, (could be a 17 week confirmed uptrend too, but might be too many bars at the mode). I'm long with a wide stop, and will add on retrace, and add as the trend progresses. It'll be hard to join, if you're not an avid position trader, and try to slap on tight stops and catch retracements. If we get further opportunities to long, it'll be a nice one to join. CoT positions in Milk futures show commercials have lowered shorts aggressively and are now flat, and creeping into the long side. Copper, commercials are flat, but might go net long soon, favoring this long Asia thesis. I think these trends are here to stay, don't miss out on the moves to come. Cheers, Ivan Labrie.
Long
by IvanLabrie
1
EURAUD: Multiple reasons to go longThe EURAUD chart is a very interesting one. I'm in a small long position, looking for more reasons to add to it soon. Price has found support in the quarterly chart, where we see two 10 quarter levels, with the recent low landing right on this level before forming a nice base, after a very sharp outside bar. From the recent swing low, price has formed a base, with a W bottom shape, which forms a larger double bottom with the December 3 low. This paints a very bullish picture for this pair, with generous upside to be seen. I'd reccomend finding long entries on the break of the downtrend 50% speed line, with stops under the mode. You could theoretically rush into it now, with a wide stop loss, but you might be better off waiting for more confirmation to long. If any of the trading strategies you use, fits and lets you find an entry here, by all means take it! Cheers, Ivan Labrie.
Long
by IvanLabrie
GBPAUD: Shorts are favoredLet's see if GBPAUD has what it takes to fight all the bearish signals on chart, and break above the previous downtrend mode resistance. The weekly chart offers a time at mode uptrend expiration signal, which suggests price can retest the mode at 1.94578 in 14 weeks or less. In the daily, off the recent swing low, an uptrend signal formed, but it has already reached its target, ahead of time. This suggests it's possible to expect a selloff from this resistance level, also emphasized by the bearish hanging man candle pattern that formed in the last close. I'll be monitoring for a short entry using the 4h chart, good luck if you decide to take this short. This is a purely technical setup, we should do our own due diligence with it, since fundamentals for the Aussie don't indicate strength with the potential copper downtrend that we have detected in our group. If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in. All of these are free of charge for concordbay.com customers. Cheers, Ivan Labrie Time at Mode FX Analyst at Concord Bay dot com
Short
by IvanLabrie
37
AUDUSD: Long entryI'll enter long positions in this pair if we break resistance and reach the price I signal on chart: 0.71645 Once triggered, it'd be probable to rally to one of the 3 targets on chart, and potentially more. For the time being, the cap resides at 0.72148, so after reaching that level it might be wise to monitor price action closely. The odds are pretty good for this setup, considering the fundamental landscape, as well as the technical picture this chart shows. Good luck if taking it, Cheers. Ivan Labrie.
Long
by IvanLabrie
12
AUDCAD: Potentially very interesting setupIn the current enviroment, it's nice to add a 'long Canada/short Asia' trade, and this is what this setup is. Currently the trend is up in the weekly but there seems to be a chance for a sharp decline in the daily chart. Risk to reward makes for a great trade if it works, so it's worth it to risk at least 1/2 position on it. Props to @Synapse here for mentioning this pair to me today, I've been waiting to long Canada again, and this seems like a good vehicle for such trade. Good luck if taking it! Cheers, Ivan Labrie.
Short
by IvanLabrie
13
Long AUDNZD Idea- Weekly Inverted H&S+Renewed Policy Divergence The weekly chart shows a very interesting inverted head & shoulders pattern following a significant AUD decline against the NZD after breaking, but failing to hold below the December 2005 lows. With the renewed dovish tone of the RBNZ after disappointing dairy prices, and even more disappointing consumer price figures, this looks to be a good opportunity for medium term longs on the AUDNZD. The RBA continues to remain on hold with the 30 Day Interbank Cash Rate Futures suggesting a 94% probability of no change, while expectations for further cuts by the RBNZ have increased from 8% to 40% since the latest statement, according the current OIS market. This pair also limits the exposure to falling commodities and risk tone considering both the Aussie and Kiwi are higher yielding commodity currencies.
Long
by ChrisMathis
1
AUDNZD Long Fundamentally we have the Reserve Bank of Australia with a neutral stance and the Reserve Bank of New Zealand with a neutral stance after the latest rate cut. In fact the NZ CPI Figures are scheduled for this week before we head into the showdown of the RBNZ in the last week of January. I am expecting a drop in NZ CPI Figures of round about -0.5%, while the newest Dairy Auction should bring a negative result for milk price pouder what should force the RBNZ to act further this year and give up the neutral stance. Further the El Nino should have a much bigger Impact on NZ's Economy than on Australia Economy. The Reserve Bank of Australia should keep the Cash Rate unchanged throughout the year. The only thing i am worried about are the falling coal and iron ore prices what is more related to Australias ToT. Further the weakness surrounding about china is more bad news for the Land Down Under than for NZ because Australia Export round about 33 % to China, while NZ is only within the game with round about 20%. Technically we are also preparing for a big move higher. This does not mean it could happens this or next week. But should the NZ CPI Figures and Dairy Prices tank, than the RBNZ has to act again. Currently the RBNZ expects CPI to shrink to -0.2%. But as said earlier, I am expecting a drop to -0.5%. Anyway, in the weekly and monthly chart we are forming a nice head and shoulders reversal pattern. What i am also wanted to say is: The iron ore and coal prices what i am worried about has fallen significantly already and the AUD adjusted to them a lot already. Anyway, short term we still have space to go a bit down to my area, but i am not thinking about that the AUD/NZD could test the Parity again. Further when we scroll back in history, we are at one of the most important support zones for this pair, what makes me more confident about it. Please let me know what you think. Thank you! Have a great sunday
Long
by robert.zach.7543
5