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JohnKicklighter

AUDNZD Breaks on RBA Hold, Technicals Take Over

Long
Australian Dollar / New Zealand Dollar (FX:AUDNZD)  
JohnKicklighter  
FX:AUDNZD   Australian Dollar / New Zealand Dollar
5
0
The RBA rate decision to hold rates shook loose some speculative shorts positioned for a possible rate cut. With that flush, an Aussie bid pushed AUDNZD through its channel top, allowing technicals and medium-term fundamentals to take over. I went long on the channel break and already took half off with a trailed stop.
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