Nzd.usd

[Bobcat.]

Big lift over the past 12 hours for the NZD against most currencies, esp the GBP and AUD. Dropping back a little today but that was a momentum shift and so expect another rise over the next few hours. The worm has turned.

...it looks like it's starting now off around 67c - get in.

[Bobcat.]

Now 67.40 (almost half a cent lift in just half an hour) - did you get in?

AUD also lifting off some good employment numbers and Chinese CPI lift. Go you good thing(s).

Make that 67.55. I've just now sold...to ride the next wave.

[Daytr]

Nice trade BC, although I would say its a dangerous game to play the wrong side of a very strong trend and any bounce like we have just seen is a good opportunity to sell.

[Bobcat.]

You're behind the times, Daytr - take a look at the graph. Downward resistance was broken yesterday (8pm NZST) at around 66.70.

Attachment 7469

It's onward and upward from here. You won't buy the NZD cheaper against the GBP, CHF and USD than it was yesterday, for a very long time...IMO.

[Daytr]

Big call & maybe you are right, but not into bottom picking & would rather see a clearer trend.
The Kiwi has come a very long way. In saying that if you look at pre EURO which caused massive weakness in the USD this level would have been considered high for the NZD.
Perhaps the Kiwi maybe seen as a bit of a safe haven as so far away from where the chaos is, however history is against it.
I think the RBNZ will lower rates by another 75-100bps yet & I would suggest at most half of that is factored in.
You may see more upside tonight after the FED as I think they will be kicking the can down the road on interest rate hikes, but its a bit of a guess.

[Pumice]

Big call & maybe you are right, but not into bottom picking & would rather see a clearer trend.
The Kiwi has come a very long way. In saying that if you look at pre EURO which caused massive weakness in the USD this level would have been considered high for the NZD.
Perhaps the Kiwi maybe seen as a bit of a safe haven as so far away from where the chaos is, however history is against it.
I think the RBNZ will lower rates by another 75-100bps yet & I would suggest at most half of that is factored in.
You may see more upside tonight after the FED as I think they will be kicking the can down the road on interest rate hikes, but its a bit of a guess.

I'm with Daytr on this one. seems like a solid downtrend in the kiwi. 88 to just over 66 with no higher lows or higher highs in all of that range that I can see (depending on your time frame).
What's your target BC? will be interested to see how far this corrects (or trends as the case may be).

[Bobcat.]

What data are you looking at? There have been higher highs with all of the NZD/USD, NZD/GBP, NZD/CHF and NZD/JPY four times these past two days. Bother to do your research before you post.

Here's the NZD/USD chart for this week:

Attachment 7472

[Pumice]

What data are you looking at? There have been higher highs with all of the NZD/USD, NZD/GBP, NZD/CHF and NZD/JPY four times these past two days. Bother to do your research before you post.

Here's the NZD/USD chart for this week:

Attachment 7472

I'm looking at the daily chart BC (as shown). and just NZD/USD as the thread is titled.

Thanks for the chart. I see what you are saying, but lets keep this friendly eh. we all have different time frames and TA.
I'm curious on your long target though. I cant tell if you are expecting 68 or 88.
I'm still targeting 63c in the medium term - i.e next 3-6 months. (just my "research")

[Daytr]

I wouldn't mind seeing a little higher before I short. I think its possible we see high 0.68s and that might be a nice level about there.

[Pumice]

Nice break below 66. Looks like the trend lower will continue. Poor gdt reading this morning.