As we knew, FED taper decision drags NZDUSD lower recent weeks, but be careful, because RBNZ still keep their hawkish stance, they will raise interest rate, the problem is when. But in the short term, I still keep my viewpoint that N/Z will test 0.81 level.
Look at on the chart, I can see 0.81 level split price pattern into two parts separately. Trade below 0.81 level or trade above 0.81 level.
If price pierces 0.81 level, I am confident that N/Z will be trade lower this key level.
one more thing, N/Z now broke SMA200. This is very important because SMA200 is a very strong support.
NZDUSD is a shining star of forex next year, it will attract a lot of traders so it will have high .
Set up stop loss at 0.82 I show on the chart or 0.822 for safe.
- open a position at current price, target 0.81, stop loss at 0.822. 43 pips from current price.
- open a pending order at 0.82 , target 0.81, stop loss at 0.8287.