Australian dollar hits a new high since late November 2013 … Kiwi rips to highest since August 2011

We’ve had some positive data for the Aussie today, enough to see further buying after the extended rise since Monday’s opening.

AUD/USD is at its highest since late November 2013:

AUDUSD candlestick chart 09 April 2014

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The kiwi, too, is doing its own face-ripping, hitting to above 0.8700:

NZDUSD daily candlestick chart 09 April 2014

Actually, need a longer-term look at the Kiwi … highest since August 2011:

NZDUSD 5 year candlestick chart 09 April 2014

Longterm forecast … by the end of this year the NZD/USD will be renamed GODZILLA/USD

(LOL … those waiting on a sell signal … there ya go!)

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

5 Comments

  1. Eamonn:

    I am told that there is a barrier option at 0.9400.

    Is this true?

    Thanks in advance!

  2. Also noteworthy is the slow creep up of iron ore prices.

  3. Would you indulge this trader for a simple observation? I’ve been doing this for a long time, and I often see traders suffer over prices and entry points. I’ve been buying the aussie. I could tell you the actual prices I bought it, or I could tell you that each time I bought at a price that I found to be a solid, GOOD VALUE. I didn’t have the luck and prescience to buy at the 86.5 bottom. I bought at different levels, each I perceived as a good value. We can too often cause ourselves such suffering – I read it here from traders too often – when a search for value is what we’re looking for. Are YOU SATISFIED with what you are offering? Then hold onto it and sell it back at a higher price, and settle in while the price moves there. This job requires patience and calm, in bucket loads sometimes. Thanks for indulging my observation.

  4. @Tom – not breaking the overall downtrend – restock in anticipation for china rail stimulus

  5. railway stimulus already good to go from what i’ve been reading

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