Disliked{quote} Problem of NZ is out of control housing market so banks want to cool it off. I am sure it will get to 80-82 but not when Aussie is still climbing. Will short NU hard once it goes 87-88 zone again. regardsIgnored
Have been observing your style from technical to economics reasoning, must say it is close to me and I have similar positions as you in NZD and EUR.
The play up of the NZD in the exchange market was to deter the CHinese from speculating property market. However, imho it has adverse effect on the dairy market as well as its prices wont be favourable as to its competitors from Aussie, CHina and even malaysia. I think the raise in NZD is only temporary.. what matters most is INTERST RATES.. that is next week to look out for.
Well done Dave, stick to your principle and believe..
PS: my take is that NZD will hit 8520 and probably stay there.. this is the day it took its reversal to the uptrend.