RBA & RBNZ policy divergence - swing opportunity
Fundamentals
AUD: Recent hike and expectations of further hikes to tame inflation, recent hawkish comments of Lowe.
NZD: Although RBNZ hiked the rate, the bank declared it's the last hike in the cycle - NZD should be weak on dovish expectations for a while.
Technicals & other
TC(B)
Medium term: Up
Long term: Range
Min. Target: Channel boundary + next technical level
AUD: Recent hike and expectations of further hikes to tame inflation, recent hawkish comments of Lowe.
NZD: Although RBNZ hiked the rate, the bank declared it's the last hike in the cycle - NZD should be weak on dovish expectations for a while.
Technicals & other
TC(B)
Medium term: Up
Long term: Range
Min. Target: Channel boundary + next technical level
Trade active:
Target update
The minimum target has shifted to above 1.075-80 (watch price action carefully near this level), as the market managed to hold above 1.1 after the Jobless Claims release, while consolidation developed further - touching the down border of the ascending channel.
The current ultimate target is 1.1175 - the resistance from 2022 + the channel's upper boundary.
The minimum target has shifted to above 1.075-80 (watch price action carefully near this level), as the market managed to hold above 1.1 after the Jobless Claims release, while consolidation developed further - touching the down border of the ascending channel.
The current ultimate target is 1.1175 - the resistance from 2022 + the channel's upper boundary.
Trade closed: stop reached:
Friday... There was actually a reentry point within a couple of hours after the stop out candle.