My pathetic attempt at trading the NZD/USD has thankfully ended and I hope not to repeat this mistake again in the foreseeable future. Both the AUD and NZD have now taken out sell orders at .87 and .71 respectively and more gains seem to be on the cards. How high can we go is the next question. The demand for the AUD from some very big commodity deals (particularly natural gas) is extremely high and this likely to remain the case. With USD sentiment remaining at a low ebb, AUD/USD looks set to reclaim the .90 handle well before Christmas. This will drag the NZD/USD higher as well. I don’t really buy into this move yet, but the market is always right.
Good luck today.
