NZD/USD
Strategy: Pending Short
We previously suggested that NZDUSD appeared ready to resume bearish momentum after prices put in a Harami candlestick pattern following a re-test of previously broken support at a rising trend line established since the lows in March. Indeed, the pair has moved lower, with trading confined to a minor falling channel. However, entering short at current levels remains less than attractive from a risk/reward perspective with horizontal support lining up close by at 0.7076. We will look for a daily close below this juncture to look for selling opportunities.
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