The Divas from Downunder looked bid going in to the Asia session and have since come off a little .
Weaker home loans data out of Oz, RBNZ’s McDernott and Spencer jawboning on NZD strength and CPI /PPI beats from China all contributing to the tug of war for the hearts and minds of us traders trying to make sense of things and earn a few pips
AUDUSD I am holding a long from Tuesday close to the low. We have taken the trendline drawn from the beginning of the month and price is trying to consolidate. Further long scalps (for the brave and nimble) can be attempted from the trendline re-test / 50% of the November range. Important to hold around these levels and keep the momentum.
NZDUSD is facing the same challenge. We are pushing into some traffic here at the 61.8 fib from the previous swing high-low and overhead trendline. after a good move up post RBNZ. Some consolidation is to be expected here and an important shorter term level to overcome if price is to make further topside progress .
My EURNZD short trade is doing well. A final push down to target from my entry (yellow arrow) would be very welcome. which also keys in with my EURUSD Med-term short position .
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