NZDUSD Drops for 6th Consecutive Day
Prepared by Jamie Saettele, CMT
The NZDUSD dropped for the 6th straight day. As is the case in general for most USD pairs, expect additional sideways / slightly higher trade over the next few days into 7985-8040. Shorts are favored into this zone with a stop above 8100. The logic behind the stop at that level is that if a larger downtrend is underway, then price shouldn’t return to the previous range.
Ideas: short on strength into 7985-8040, stop 8100
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