AUD/NZD and EUR/NZD technical setups

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The New Zealand dollar doesn’t provide too many technical indicators, but it certainly has its share of technical setups. Here are two trading ideas:

Here is their view, courtesy of eFXnews:

AUD/NZD: A ‘Fading Star’; What’s The Trade? – ANZ

ANZ FX Strategy Research favors fading NZD strength from here arguing that the good news story is already well factored in at current elevated levels, and prefers to express that vs AUD. 

“We have a mildly negative bias towards the NZD…We think that the recent normalization in the AUD/NZD cross has some scope to continue.

It has made an important technical break this month. Given the re-calibration of expectations for the two central banks and the sustainability of growth in the two economies, we think that the range for this pair has moved higher and the threats of parity are long behind us,” ANZ argues.

EUR/NZD: Bullish Setup Intact; Levels & Targets – NAB

NAB FX Technical Strategy Research notes that EUR/NZD previous 2017 highs at 1.6200/50 should keep provide a solid base from which a multi-month to multi-quarter uptrend is likely to emerge.

Initial target at 1.69/1.70 is most conservative given the experiences of the past 10 to 12 years.

A monthly close above 1.69/1.70 will confirm an aggressive LT topside target of 1.90/2.00.

Only a weekly close below 1.6071 will negate the positive MT bias,” NAB argues.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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