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AUD/NZD: Start to accumulate longs on dips - ANZ

UUGrand Posted 5 Aug.  in #Trader's blog
"The AUD/NZD remains in a 1.05-1.10 range. The rate cycle in New Zealand looks to be fully priced for the current economic situation, and more recently the NZD has become more responsive to international news. Should this dynamic extend, it will likely add to AUD/NZD support."
"We continue to advocate a strategy of accumulating on dips with signs of economic or monetary policy convergence likely to drive a reversal of this cross toward historic averages."
A technical picture doesn’t get much mor…
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EUR/USD comfortable above 1.3400

UUGrand Posted 4 Aug.  in #Trader's blog
There was little in terms of economic data during the European session, with the Eurozone PPI for June coming slightly above expected. During the New York session, the calendar remains pretty light so in the absence of fresh news, the pair could go through a consolidation day. Next Thursday the ECB will decide on monetary policy although it could be a non-event as no surprises are expected.
EUR/USD technical outlook
“Friday's break through the dynamic resistance at 1.3400 signals a reversal of t…
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USD down after NFP, still ends week higher

UUGrand Posted 3 Aug.  in #Trader's blog
The currency market remained steady during the American session. The US dollar tumbled after the release of the employment numbers, then pulled back slightly, trimming losses and stabilized. The best performer on Friday was the Japanese Yen that beneficiated from risk aversion and falling US bond yields.
The EUR/USD finished the week around 1.3420/30, having on Friday the best day in weeks, but still below where it was a week ago and still faces pressure. Among european currencies the Swiss Fran…
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