The NZD/USD is currently retracing, after posting a new yearly high last week at a price of .6874. As the pair declines, traders looking to join the trend may plan for the pair’s next major breakout. To do so, an entry order may be considered one pip above the high at .6875. It should be noted, in the event of a trend reversal, and prices drop back below the daily 200 period SMA, traders may elect to delete any pending buy orders...read more
