Day two: potential AUD/NZD trade

My idea to be short AUD/NZD is in play and after rallying to a high of 1.0860, the pair has found sellers and is testing Friday's lows.

The MACD continues to flatten and as said yesterday I will look to add another contract (short AUDNZD) when the MACD crosses below the signal line.

Event risk for today comes in the form of the November trade balance, which is expected to narrow $300 million. A number above consensus should work in favour of the trade.

My stop and target remain unchanged.


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