- The close in NZD/USD below previously important support is likely to attract plenty of model and macro interest;
- AUD/NZD is again fast approaching important resistance levels at 1.0900/25.
I’d play this move with a fair degree of caution. The FX market has been unable to generate a lot of momentum in recent weeks and I think it might be a bit much for us to expect strong trending moves to suddenly develop. Selling NZD rallies certainly looks like the play but I’d be very cautious about selling breaks.