Yesterday I flagged that this pair would chomp through 2.06, 2.07 and 2.08 and thats pretty much what happened yesterday, for today I would expect resistance to come in around 2.0970 to 2.10, price should rebound off here before continuing the push up the hill towards 2.12.
Lets look at the chart:
Price will search for the high 2.09's as the market will be long until to this point. A pull-back or pause at worst should be evident back towards 2.0880 before pushing through this level and higher.
Lots of trading opportunities for this pair before the news later in the week for NZD
Asia Lunchtime Update
This pair is behaving nicely, building a little base around 2.0950, headwinds coming in from london later today with Pound news. Not always but news just tends to perpetuate the trend that's in place as the big players in the market take advantage of extra liquidity to force price where they want them.
If we go up from here I am expecting 2.10 to break and stops to be triggered from 2.1025 onwards.
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