Are Commodity Pairs Doomed?
The massive fall in oil prices may have ceased trading in the equites indices but this doesn’t mean markets are doomed! Despite dragging many risk assets down with, the oil isn’t as much correlated with the aussie and kiwi now as it is with the loonie, is it? If RBA and RBNZD team up with their respective governments to find a solution to the oil price war and the coronavirus this is likely to offer a good support on both audusd and nzdusd. The pin-bars seem to good too! And at the same time!