NZDUSD: Profit Target Revised Below 0.72
Strategy: Short at 0.7516, Targeting 0.7171
Floating Profit/Loss: +200 pips
We sold NZDUSD at 0.7516. As we suspected last week, prices bounced higher from rising channel support but have since reversed lower once again, closing below our soft target at 0.7344. We will now trail our stop lower to be triggered on a daily close above 0.7457 and establish an updated soft target at 0.7171.
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