Entered a long position at 0.7228 on the basis of a weaker dollar and risk on momentum. Would like to have entered at 0.7160 but missed the trade. Idea only came to me from Baby Pips so entered a bit late but like the trade fundamentally.
It also slightly hedges against my longer term AUD/NZD position. If the NZD does outperform the AUD on risk on moves then I should profit from this position.
It also slightly hedges against my longer term AUD/NZD position. If the NZD does outperform the AUD on risk on moves then I should profit from this position.