Direction: Long
Opening Price: 1.22885
Contract: 1 (mini)
Opening Contract Value: AUD$10,000 (NZ$12,288.5)
Stop Level: 1.2000
Amount Risked: NZ$288.5
Interest rate differential fee: -0.75% p.a.
Technical Justifications:
- Standard & Poor’s warned that it could downgrade the country’s foreign currency debt rating, sending the Kiwi dollar on a downward spiral against other currencies; and NZ central bank expected to cut rates by at least 100 basis points on January 29, see here.
- There is a breakout on the daily chart resulting in a 1-month high for the pair.
Chart
AUDNZD Spot Mini - Daily
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