NZD/USD: And speaking of exhaustive moves!
If the move over 1.3700 on Friday was symptomatic of an exhaustive move in the EUR/USD, then how likely is it that yesterday’s move to .8500 in NZD/USD was of a similar ilk?
It’s now against my religion to trade the NZD so I will leave that to braver souls, but surely risk-reward would suggest a small short position with a stop above .8500 might just bear fruit?
Or am I stupidly applying logic to the Kiwi? 🙂