Ok, best of luck. I think the important level is a close above 16320. Just looking at a wider view I would want a stop loss below 1.6250 as there is plenty of support there. My main question though would be why trade this pair at all. I don't see a strong trend and obvious trade so why not look at another pair that is trending such as AUDNZD?
Yes I agree that AUD/NZD is trending very well. Its on my radar and I am looking for a pull back before I go short. AUD/NZD isn't doing anything at the moment. I like to trade more volatile pairs like the AUDJPY AND USDJPY. Thanks for sharing :) Cheers.