NZD/USD
Strategy: Pending Short
NZDUSD has bounced sharply lower after a re-test of previously broken support at the lower boundary of a rising channel that had guided prices higher since the lows in March. However, entering short at these levels does not look prudent with the presence of horizontal support at 0.7144 skewing risk/reward considerations. We will remain on the sidelines for now, looking either for a bounce from or a break below 0.7144 to look for selling opportunities.
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