IF we get a break & close below our previous structure lows (see last candle), we will be given multiple ways to enter this short opportunity, both involving waiting for a retracement back into our previous formation.
Ultimately based off of my analysis, I would predict a day tomorrow and a potential move down to the 0.7120's to 0.7060's level before seeing some more involvement.
I'm not currently involved in this move, but will certainly have it high on my trading radar as we move into Tuesday's trading session. I'll keep you guys updated if anything changes that is worth noting.
Traders looking to potentially get involved tonight just keep an eye out for NZD Expectations news 11pm NY Time (as there are still high expectations of a Rate Cut in a few weeks) & RBA Cash rate/ Rate Statement
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