FX:NZDUSD   New Zealand Dollar / U.S. Dollar
39 0 0
This morning I was looking to short this pair if we got a false breakout above .6713. Given the price action this morning, if the current 4h bar closes near current price (0.6679) I believe we'll see a retest of yesterday's low around 0.6622. The current 4h bar failed to retest the previous 4h bar's high--which happened to penetrate and get rejected off former support now acting as resistance. This offers a great RR short with a tight stop around 0.6709. My bias is short on this pair so I'm naturally looking for all signs pointing south; though, it should be noted that the current 4h bar also failed to retest the previous bar's low, creating an inside bar which could lead to a push higher. Anyone shorting at this level should proceed with caution and an open mind. Stick to the plan!
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