From a technical and trading perspective the NZDUSD has tested pivotal resistance at .6450 and yesterday posted a bearisk key reversal pattern, follow through to the donside today will see the daily VWAP flip bearish opening further downside, with initial support sited at .6350 a failure to find sufficient bids here will likely see a deeper correction to test support at .6250 where by we could form the right shoulder of a potentially bullish inverse head and shoulders pattern which would be an ideal area to cover my short positions and venture long with the requitse price action confirmation.
Trade active:
Stops to entry