FX:AUDNZD   Australian Dollar/New Zealand Dollar
Learn 2 trade like a PRO http://boafx.com - This trade is purely technical based which I have already taken as a sell but I am posting it for yo to maybe have an opportunity to get in on a pull back. Although the NZD is facing another rate cut their decision is not released until end of July where the AUD is announcing their rate decision next Tuesday where their is a chance they will add another rate cut due to slow chinese growth and low Iron ore prices. We are looking at two weak currencies here but we can not ignore the current high price and the area of confluence from this time last year. Although the long term Fundamentals do point to a further rally i THINK WE COULD EXPERIENCE A SIZABLE PULL BACK ON THE UPTREND THIS MONTH.
2 years ago
after the rate decision by the RBA to keep rates on hold it is time to take profit on this trade
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