Does anybody believe the pair will breakout from the range? I shorted at the current level. http://img83.imageshack.us/my.php?image=untitled5zb.png
I agree with the short. I also agree with the oversold assessment. However, NZ is a disaster economically at the moment, where the RBZ went too far on rates and needs to cut in order to release a stranglehold on the country financially, but they're caught between rising energy prices and a failing economy. I think there's a lot of ground to cover on the down side. The only thing helping the NZD at this standpoint is a well needed correction in AUD/NZD. PS - there's an entire NZD thread in this forum.