Last week, I pointed out that NZDUSD was starting to betray signs of reversal below support-turned-resistance at a rising trend line set from the March 17 low. The then put in a Bearish Engulfing candlestick pattern below this boundary and I entered short, initially targeting 0.8142. The pair has done little so far but the overall setup remains valid, and I will continue to hold the position. A stop-loss will be activated on a daily close above 0.8328, the July 5 wick high.
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