NZDUSD: Try a small long before re-build short positions
|NZDUSD well developed the downtrend below 200 day MA.
0.7206 will ideally cap any near term strength.
To the downside, 0.7074/65, 0.7000, 0.6976/64 are next levels to watch.
However, the downtrend from 0.7394 could only be counted as 3 wave decline.
some small pullback could not be ruled out.
On intraday chart we could see small divergence sign.
We'll try to trade short term extremes before re-build short positions.
Directly close above 0.7206 will erase immediate downside risk.
Close above 0.7299/0.7338 will indicate a potential trend reversal.
NZDUSD Trade Idea
Buy Limit @ 0.7075 SL 0.7044 for 0.7151
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