NZDUSD Breakout and potential retrace

Hey Traders, In today's trading session, we are closely observing the NZDUSD currency pair for a potential selling opportunity around the 0.61650 zone. NZDUSD has been trading in an upward direction, but recently it broke out of that uptrend. We are now patiently waiting for a correction to occur, which could indicate a possible retracement of the overall trend leading to lower levels.

To further solidify our analysis and gain a clearer understanding of the Federal Reserve's stance on interest rates, we are also keeping an eye on tomorrow's Fed speech. This event will provide more insights into the intentions of the Fed regarding interest rates. By considering this information, we can enhance our understanding and confirm the bias in our trading strategy.

Trade safe, Joe.