Long AUDNZD Idea- Weekly Inverted H&S+Renewed Policy Divergence

FX_IDC:AUDNZD   Australischer Dollar/Neuseeländischer Dollar
The weekly chart shows a very interesting inverted head & shoulders pattern following a significant AUD decline against the NZD after breaking, but failing to hold below the December 2005 lows. With the renewed dovish tone of the RBNZ after disappointing dairy prices, and even more disappointing consumer price figures, this looks to be a good opportunity for medium term longs on the AUDNZD . The RBA continues to remain on hold with the 30 Day Interbank Cash Rate Futures suggesting a 94% probability of no change, while expectations for further cuts by the RBNZ have increased from 8% to 40% since the latest statement, according the current OIS market. This pair also limits the exposure to falling commodities and risk tone considering both the Aussie and Kiwi are higher yielding commodity currencies.

To succeed in trading, you must have a paradigm shift. You must think in probabilities, and be able to lose well. Professional traders are taught this before they ever step foot on a trading floor. Retail traders usually learn the hard way.
AUDNZD pair is right back at weekly support.
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