Kiwi consolidation ahead
The news out cited that the bond auction demand is strong that led to US dollar corrections as the reason in tonight's move.
Technical reasons on short NZD/USD:
1. The daily chart shown above shows that the price action hits the upper bound of uptrend flag patterns (parallel to USD/CAD)
2. The 200 SMA also acts as resistance cluster of NZD/USD.
Trade ideas:
Entry at market price
S/L: 0.7090
T/P: 0.6950
Note that if the current price does not apply to your risk reward ratio, you guys can re-entry at better price when the market corrects.
Technical reasons on short NZD/USD:
1. The daily chart shown above shows that the price action hits the upper bound of uptrend flag patterns (parallel to USD/CAD)
2. The 200 SMA also acts as resistance cluster of NZD/USD.
Trade ideas:
Entry at market price
S/L: 0.7090
T/P: 0.6950
Note that if the current price does not apply to your risk reward ratio, you guys can re-entry at better price when the market corrects.
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