Disliked{quote} Possibly. 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...Ignored
My heart goes out to all those who have been affected by the 6.5 magnitude earthquake in New Zealand.
Isn't it amazing how when the technicals scream for a currency to reverse, some event comes along to make it so?
Patience is key. I have always believed that in this market, it is patience that will bring you to success... as long as it is a good trade to begin with. I love my AUD/NZD long and even when it dropped below 1.17, I still hung in there because it made no sense to bail so quickly. I even said I might bail if I didn't see any progress by next week. Well here we are. This earthquake is going to put a dent in the economy and the underlying confidence of the markets. It's just too bad it had to be a natural disaster rather than cyclical macroeconomics that triggered the reversal.
Large 6.5 magnitude earthquake strikes New Zealand
http://www.smh.com.au/world/large-65...721-2qcal.html
Those who say it cannot be done should not interrupt those who are doing it
