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09/10/2015 NZDUSD

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As expected, the Official Cash Rate was downgraded to 2.75% (from 3%) a few moments ago, which is causing right now the NZD falling sharply against all currencies. After the very dovish statement by the RBNZ, as you can see here, I believe the price can continue falling sharply during the next few days.

Here are the weekly and 1 minute chart, respectively:

NZDUSD, Weekly chart

NZDUSD_00_05 10_09_weekly

NZDUSD, 1 minute chart

NZDUSD_00_02 10_09_1minute

As such, after shorting the pair, I put my stop a little above the 38.2% level, around 0.63387, and I will let it run during the night (London time).

Other pairs could be interesting trading, like the GBPNZD.

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