Disliked{quote} Well what about AUD ? at this level I expect weakening of AUD more than NZD. So maybe still some time for long ???Ignored
I see AUD/NZD carving out a bottoming process quite soon because no matter how bearish the AUD is, there is no fundamental reasons for the Kiwi to be strong right now and after its technical pullback to current (and maybe slightly higher) levels, it should start it's extended decline whilst the Aussie performs its long overdue correction to 0.95/96 area or remains flat. If the Aussie stays persistent with it's bearish bias without retrace and beats the Kiwi to the bottom, it will not be long before the RBNZ has to make an emergency rate cut or other intervention.
Right now the Kiwi is getting support from the consumer credit bubble it has got itself into, but that won't last in my opinion.
Keep in mind also that I am not highly leveraged on this trade, so I am not really motivated to bail yet. I will give the trade till next week to produce something, and if not, then I will cut it loose and look for other opportunities.
Those who say it cannot be done should not interrupt those who are doing it