Thursday, 19 February 2009

NZD/USD Update

Have placed a stop on 4m NZD/USD position at entry level of 0.5150.
This will return me to original position of NZD2m long at 0.5668.

Basically have concluded that there is so much bad news priced into the NZD/USD, not sure whether it can move much lower. But it can't rally much either in these markets so may yet go back to short at higher levels if seen.

Also like the way the Yen is weakening and a weaker Yen will help the AUD and the NZD higher.

We'll see.

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