The kiwi is this Thanksgiving's turkey
The kiwi has popped like the thermostat embedded in a Thanksgiving turkey. The move was due in part to news that the Reserve Bank of New Zealand only sold NZD $1.0 million in October.
Management and risk description
The risk to this trade includes the fact that NZDUSD has been rather directionless in the short term. Renewed selling of AUDNZD could limit NZDUSD losses. Chinese PMI data could boost NZDUSD if it is stronger than expected, triggering the stop.
Entry: Sell ½ NZDUSD at market (Currently 0.7895) balance at 0.7960.
Time horizon: Two weeks
NZDUSD one-hour with break of weak intraday uptrend noted
NZDUSD four-hour downtrend and Fibonacci target
NZDUSD daily five-year with moving averages
— Edited by Michael McKenna
Non-independent investment research
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