NZD falls surprisingly hard after RBNZ; AUD/NZD trade idea


By: Sean Lee

I don’t find anything that the RBNZ did or said in any way surprising; they’ve been saying for the last 3 years that the NZD is overvalued. Whilst their tone on rates was slightly more dovish I still think that a 100 pip drop in NZD/USD is an over-reaction.

I don’t trade the NZD but the 50% retracement of the big fall in AUD/NZD from 1.3080 to 1.2140 comes in near 1.2610 and might be worth a short-term sell looking for a quick 100 pip dip?

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