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Thread: Discuss the AUD/USD and the NZD/USD with a DailyFX Analyst

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#11 (permalink)

10-23-2008, 01:08 PM

John Kicklighter John Kicklighter is offline

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Quote:

Originally Posted by John Kicklighter

I'm watching AUDNZD closely as a potential breakout trade. The levels are very clear and we have event risk closing in with the RBNZ rate decision. What do you guys think?

AUDNZD survived the RBNZ's 100 bp rate cut thanks to comments that suggest Bollard will take a more reserved pace to rate decisions going forward. I'm still waiting for a breakout though....

It looks like most of the Aussie pairs are setting up with similar consolidation and breakout patterns. Another one that has caught my interest is AUDCAD - my analyst pick. A defined rising wedge, strong overhead resistance and high volatility - the makings of a breakout...

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John Kicklighter is the author of Dynamic Carry Trade Basket, Watch What The Fed Watches, and Forex Trading Weekly Forecast on DailyFX.com

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