AaronLeggett
Short

NZDUSD - Short to 0.72000

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Nice simple analysis here - I'd advise getting on it quick as NZDUSD             will melt downwards! We've got a nice fibonacci retracement drawn from previous highs and the current lows. The overall market sentiment looked like it was producing a bearish flag but the fundamental data reversed the trend which saw the price spike up to the 0.382 fib level. However, the price met confluence with the SMA level and is now in the process of correcting itself back on it's way down. For now, lets aim for the previous two low prices as our target at 0.72000 - which brings in a hefty amount of pips on a nice 2.5 R:R.
Damn fundamentals!
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Anyone following my trade here, watch for the bounce up to the 0.236 line; we're currently trading at 0.73010 but don't take profit yet, I feel overnight a test of the resistance line will occur and then the price will start tumbling!
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