1.05 is a strong psychological level for this pair. Will not go into the macro of both countries but the Kiwi has been overly resilient compared to it's brother the Aussie dispute a very similar exposure to China.
Will start seeing some passionate defense of the Aussie around this level albeit nothing near the parity levels.
Currently drifting at the 1.382 Fib extension level where we will be seeing some TP's from current short positions.
Use your own entry criteria for longs between the 1.05 and 1.04 levels with SL's below 1.04 however as always, wait of confirmation before heading long since everything is still indicating bearish on this pair
Will start seeing some passionate defense of the Aussie around this level albeit nothing near the parity levels.
Currently drifting at the 1.382 Fib extension level where we will be seeing some TP's from current short positions.
Use your own entry criteria for longs between the 1.05 and 1.04 levels with SL's below 1.04 however as always, wait of confirmation before heading long since everything is still indicating bearish on this pair