After an inline NFP we are breaking down here and by now it is very clear where the next targets come into play for bears. There is very little support here in the ladder till 0.656 and here expecting Kiwi to remain offered for the coming days.
It is clear where Dollar bulls have been spending their time, bidding the roll and letting go for Tokyo. People do not think the China/US deal is priced, I would said it is more or less completely priced across the FX market and there isn't any room left for a reaction to the upside in NZD.
Stops can rest comfortably above 0.684 after yesterday's report whilst targets below initially coming in to play at 0.656 giving a nice r:r if you are not already working the sell side.
Have a great weekend.
It is clear where Dollar bulls have been spending their time, bidding the roll and letting go for Tokyo. People do not think the China/US deal is priced, I would said it is more or less completely priced across the FX market and there isn't any room left for a reaction to the upside in NZD.
Stops can rest comfortably above 0.684 after yesterday's report whilst targets below initially coming in to play at 0.656 giving a nice r:r if you are not already working the sell side.
Have a great weekend.
Comment:
As simple as it gets...
Trade closed: target reached
