What’s floating? Milk or oil? Sell NZD/NOK |
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We recommend selling NZD/NOK spot at 3.91 for a move to 3.75 and with a stop at 4.00. The technical outlook is for range trading important levels to watch are 3.84 and 4.05 .Both NZD and NOK are among the high-yielders in the G10 currency universe .Recently, the relative rate spread has diminished sharply meaning that the positive NZD carry has almost disappeared. The trade is our ultimate relative value bet at the moment. Investors who find the pair (NZD/NOK) tricky and prefer only
Filed under: Technical
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