Direction: Short
Contract: 1 (mini)
Opening Price: 0.55668
Opening Contract Value: NZD$10,000 (US$5,566.8)
Limit Level: 0.52668
Stop Level: 0.57668
Amount Risked: US$200
Interest rate differential fee: -4.75% 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.
- Recent bullish rally fail to break resistance level of 0.6000, and bearish trend developing.
Chart
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