As I wrote yesterday, I bought the dip in AUD/NZD on Tuesday to 1.2500 and I’m looking for a reversal in the recent downtrend. Citibank came out with a sell recommendation around the same time.
I’m hoping for some consolidation in a broad 1.2480/1.2680 short-term range which will give me the opportunity to build a solid base position for a move to 1.31+. Looking reasonably ok so far, but that can change quickly as we know.
My small short NZD/USD position wasn’t looking too promising so I cut that for a tiny loss a short while ago.
