Last week fixing my trade remained in NZD, about 500 pips below my strike price. Today did a trade again, this time pairing with AUD, striking at 1.18, but the yield this time is very low, only 6.3%pa. Anyhow, I proceeded as nowadays the yields are much thinner compared to past few months. AUD/NZD is currently trading at about 1.202, so I'm striking at about 200 pips below the spot.
I'm trying to convert my whole sum from Kiwi to Aussie at the rate of 1.18 which lies onthe long term support trend line projection. The reason is because over these few months, I have observed that the Aussie is more resilient than the Kiwi in bad times, and perform better in good times. Looking at the graph of AUD/NZD in the long term, there is gennerally an uptrend though high short-term volatility.
Observing AUD/SGD and AUD/USD, I feel AUD is at consolidation mode, recently attempting to form an ascending triangle. At the current momentum, this could spell that AUD may break upwards anytime. On the other hand, NZD/SGD and NZD/USD is all the way a step-down ladder, failed double bottom formation and breaking new lows, which means that the Kiwi could still take quite a bit of time to recover, if happens.

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