Inside the Currency Market: NZD/USD

NZD/USD. Bottom. 0.6554. Range break above 0.6605, Below 0.6570. Strategy. Long above 0.6588, target 0.6610 – 0.6621. Be aware 0.6605 is a range break. Points on the way up, 0.6592, 0.6601, 0.6610, 0.6621.
Shorts below 0.6587, Target 0.6570 then Bottom 0.6554. Points on the way down, 0.6582, 0.6573, 0.6570, 0.6563, 0.6554.

NZD already had a 65 pip run today. 48 pips in 8 straight hourly candles in the MY session and 17 in NZ trading. I wouldn’t take NZD long, I would look short particularly when the EUR curve dropped tonight yet again. And secondly, the NZD curve hasn’t moved higher enough to think long. EUR is coming in minutes.

Brian Twomey, Inside the Currency Market, btwomey.com

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