NZD/USD: Longs preferred whilst .7380 technical support holds by Sean Lee

  • There is nice short-term technical support around .7380 which held the first test yesterday;
  • The NZD/USD reaction to a rather poor dairy auction gives me a sense that the market is positioned incorrectly at these levels;
  • AUD/NZD is exhibiting the dead-cat bounce syndrome and a test of 1.0000 in coming weeks seems inevitable.

 

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