Strategy: Pending Short
NZDUSD is little changed from last week with prices consolidating below the 0.72 figure and support at 0.7057 having taken out support at the bottom of a bearish Rising Wedge formation. Although positioning clearly calls for a bearish bias, entering at current levels looks unattractive from a risk/reward perspective and we will look for a corrective upswing to yield a better setup.
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