NZDUSD: Breakout Setup

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ May 4, 2016 5:35 PM

NZDUSD is at d1 resistance turned support, 200 sma in h4 chart and at resistance on multiple TFs. We would like to observe price action and trade the breakout. We are short biased because of broken trendline on d1 and 20 DMA well above the price.