FX:NZDUSD New Zealand Dollar/U.S. Dollar
We have a confirmation on NZDUSD , so more downside moves are expected. However, at the moment, price moved back into the channel it broke out of. A long position now looks like a good play to the .698 level, which would then trigger a sell order to go down to the bottom of the larger channel. In many cases, when there is a , prices tend to try and reach back to the level at which there was a , but fail to reach that high and begins to sell off rapidly. Watch price action closely as it approaches .69802 because prices can begin moving quickly.
Comment: Touch off the trendline as a retest. This thing should go flying now.