Some kiwi order flow and options chatter for you
Heads up NZDUSD traders. Desks are noting bids around 0.6820, and offers up around 0.6895. There’s alos a barrier option said to be in place at 0.6800. There’s no details on the size of the barrier but the bids could be related to that.
We potentially have a double bottom situation going on in the kiwi down at the 0.6815 area so this one could be interesting. There’s a low risk trade for longs from 0.6820 with a tight stop under 0.6790. A break of 0.6800 could be significant but there’s also a risk that someone decides to flush the barrier and then we see the price reverse back up.
For more information on Barrier options, read here.
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