ridethepig | NZD Market Commentary 2020.01.16

Mixed data from NZ overnight with strong housing and weak retail sales. The soft sales was mostly expected so only minor spikes were available in NZD on the event risk flow as posted in the diagram here:

As widely expected, NZDUSD presenting another very good opportunity to short 0.664/6x and initially target by covering 0.660x. In AUDUSD same drill as before, tracking 0.692x for a similar move back towards 0.685x lows in the range.

Thanks as usual for keeping your support coming with likes, comments, charts, questions and etc!

Trade active:

All shorts filled here, eyes on the open.

Comment:

Trade closed: target reached:

All cleared here and covered with longs at 0.660x