Back
31 Jul 2014
AUD/NZD: Definitive bearish bias - FXWW
FXStreet (Bali) - AUD/NZD may have found a temporary top and be exposed to downside pressures near term, notes Sean Lee, Founder at FXWW.
Key Quotes
"The market has been trying to buy dips and breaks in AUD/NZD but I have the feeling that it may be now a bit long and wrong."
"The NZD/USD is really struggling to make any new lows whilst the AUD/USD looks to have plenty of potential to test large optionality at .9250."
"Reading through some of overnight interbank reports and after a quick look at the charts, I’d suggest a 1.0970/1.1020ish range in the short-term (if we’re lucky) and I have a definite bearish bias as I think market slightly over positioned."
Key Quotes
"The market has been trying to buy dips and breaks in AUD/NZD but I have the feeling that it may be now a bit long and wrong."
"The NZD/USD is really struggling to make any new lows whilst the AUD/USD looks to have plenty of potential to test large optionality at .9250."
"Reading through some of overnight interbank reports and after a quick look at the charts, I’d suggest a 1.0970/1.1020ish range in the short-term (if we’re lucky) and I have a definite bearish bias as I think market slightly over positioned."