Yes this is very painful. I've had most if not all of my profits eaten up by the weakening AUD. Not happy!
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Yes this is very painful. I've had most if not all of my profits eaten up by the weakening AUD. Not happy!
I agree SKID that our economy is quite small that one bad news can knock Kiwi hard just like the mad cow scare a few years back that knock 100 pts off just like that. But based on outlook soft commodities looks rosier than hard commodities so NZ will have an upward bias with Dairy prices going up. Although another Fonterra scare can just derail everything. But looking at the chart we might see NZDAUD scale new highs in the near term.
[QUOTE= But based on outlook soft commodities looks rosier than hard commodities so NZ will have an upward bias with Dairy prices going up. Although another Fonterra scare can just derail everything. But looking at the chart we might see NZDAUD scale new highs in the near term.[/QUOTE]
I read somewhere recently that globally dairy production is recovering (was bad weather etc) and this will put a downwards pressure on Dairy prices so if so we may be near a top right now.
Attachment 5628
Um yeh, I been building up shorts on this cross
As per the purple down arrows
Moosie
The article you posted a link to doesnt reference the aud/NZD but the aud/usd
The cross that is the title of this thread aud/nzd
When RSI < 30
Yes, 70,30,14
sorry, cropped it out of the pic
Moderately acceptable bearish gartley on the AUD/NZD cross now