NZD/USD trade idea for the stout hearted
- AUD/USD has run into solid technical resistance at 1.0360 (see members).
- AUD/NZD seems to have run out of bearish momentum after a sharp fall and is trying to form a base above 1.2050.
- Ergo, sell NZD/USD at .8560 with stop-loss above .8615 looking for .8410.
I will add that I do not trade the NZD as it nearly always costs me, so maybe this idea should be taken as a reverse indicator? 🙂