Sabi
Short

NZDUSD Summary & Trade Ideas

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
39 0 1
FX:NZDUSD            

The NZDUSD             is currently in the process of retreating from it's long term trendline that began way back in 2014, this also coincided with the 200MA which in turn acted as resistance. We are currently flirting with the 0.764 Fib Retrace (blue) which over the past several months has been a critical level, a successive break of this level would open the doors to the 0.65000 region and then 0.64000 at which point we may start to experience support from a trendline set from the 2015 low. I would continue to short this pair unless we experience a solid break of 2014 trendline coupled with the 200MA, which would open up the upside potential to 0.68500 and the top of the 2015 channel.

Feel free to comment and share your ideas.
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