Posted this as a short break of the pennant, anticipating dovish RBNZ. Wheeler however was more upbeat and affirmed rate rises and, together with today's oil weakness affecting CAD, the pair reversed. Now looks to be breaking to the upside. If it doesn't, I am closing it and relegating the pair to the stupid corner.
Comments
HexVex
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Hope this bearish megaphone on the 1hr doesn't mean anything. I'm long too.
martinwylie
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This one has been really slow, it may still go but I have lost patience with it and moved on. I looked for oil/CAD inspired weakness a bit late but in hindsight, the EURCAD moved really nicely and would have been the better play. AUDNZD looks to be a better way to play the NZD if you like mean reversion.