NZD is moving as collateral with AUD, those following the previous AUDCNH idea will know this is no less imaginative. New Zealand is exposed to a short-circuit in Chinese supply chains leaving it vulnerable to a slowdown in China via coronavirus. On the monetary side, RBNZ has been notably quiet around the impact from the virus. The CB will not be able to hide...
price currently above demand levels with multiple retests with failed closure below to act as supply. longs currently in play on this pair with first TP shows on the R:R tool as above.
My 2 cents on this pair. I took a long position on this pair a couple of months ago where my first take profit was achieved. my second entry was however closed at break even and then price rallied targets lol... anyways... with ZXY index currently over bought I will be looking to take a sell on this pair with targets shown as below. once we it first take profit...
NZDCNH is in a long term downtrend and at the moment is in a countertrend wedge formation.