This pair has a significant Resistance level at 0.8470.
Price has come away from this level 3 times and it has not been broken for over a year.
Chart below:
On the medium term charts price has begun to make lower lows and lower highs.
I am looking for a short trade.
Chart below:
Price has made a short term double top (Green Line)
Price has now broken through support (Red Line)
I have two orders to short NZD / USD as shown below
Levels and chart below
1st Entry: 0.8395
2nd Entry: 0.8405
Averaged Entry: 0.8400
Stop Loss: 0.8425
Target: 0.8275 (5%)
I will update again if the trade is triggered
Regards
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