ProCFDTrader

Potential buy trade in NZD/USD, but with caution

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Following the release of the CPI data from the US, the US dollar found some renewed strength which pushed most
of the other currencies lower versus the US Dollar . The commodity currencies took a severe hit with NZD being pushed
below the 0.6 level.

However, the price seems to have found some support at this level and there could be a rally to 0.61 very soon. So, my plan
is to long the NZD/USD at 0.5975-0.60 with a moderate stop loss and my first target at 0.61.

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