The NZD/USD breaking below 0.7000 inspired a short position but we were immediately stopped out as the pair quickly retraced back above the psychological level. Nevertheless, the pair remains in a downward trending channel and I would need to see a move above 0.7150 to consider changing my bias. I will continue to wait for a break below 0.7000 for a bearish position with 0.6800 as my initial target.
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