Not much to tell, but it looks like NZDUSD is returning to its bearish bias. If you were wondering, the last couple of hours was really worrisome for me as this pair experienced very little selling and moderate buying.
After surpassing the support returned untested resistance, it became worrisome actually. It appears like this pair is back on its track and sellers should begin to take control once again. This short entry is definitely a bit late I would agree.The two bearish bars that confirmed the reversal would have been good enough to signal a trend continuation. Still, it is not too late to sell short.
To be honest, the profit target remains a bit murky. Looking at the daily time frame, there does not appear to be a next level of untested support anywhere soon. For now, no take profit has been put in place. The pair shall be closed primarily based on fundamentals or economic news releases. NZD experienced a negative trade balance less than expected, which would propel the next few releases especially business growth tied into the greater exports.
