Long AUDNZD > Playing divergence view of central banks

RBNZ is still dovish and probably will have to cut the rates for it to achieve its inflation target. RBA on the other hand will still be looking to raise interest rates but probably next year. Current trade tensions are causing AUD to depreciate - commodities currency and China Trade. I believe the news is already factored into the price and hence we went long from the POC of May and June at 1.0870. We are already in red but we are targeting the 23.6% fib level and stop loss is 50%

Trade chiuso: obiettivo raggiunto:

Quick 60+ pips move today

You can move the stop to our profit target and wait for it to take the stops that are placed at the previous high. Targeting 100% fib level from here