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Technician

#NZDUSD: Potential for a Short Trade #forex

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
Technician  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
47
72
Looking to short around 0.7690

  • The pair is in a long term bearish trend
  • The price formed a pin bar at a previous major swing low (0.7680 area). In addition to a falling trend
  • A small rising wedge could be evolving
  • RSI is showing a slight bearish divergence
The framework for this trade is looking for a short around 0.7680-0.7690 area, with a first target around the ascending support for the wedge. The trade is illustrated on chart.

Good luck...
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Technician
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