BombayBulls
Short

Tactical Short NZD/USD Trade - 6/8/2016

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
34 0 1
New Zealand dollar has been a front runner of US dollar             selling rush started by weak NFP. We like selling dollar and have been positioned like that. But today even though we prefer long NZD/USD             , for medium term, we are looking for tactical short term trade selling NZD/USD             on spikes towards 0.7025 / 0.7050. Reason for this trade is that today is RBNZ rate announcement day and those who have been long would like to reduce the risk as well as those who are staunch believer of lower NZD would like to sell against this resistance. It provides very low risk high reward set up and we can't miss it.

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