Technical Analysis

NZD/USD: Watch out for large stops downside

I don’t know for sure where these stops are sitting, but one of the bigger banks says that they are very large.  A cursory glance at the daily chart would suggest that they are sitting directly below .8180, as that’s a possible neckline for a double-top formation. I’m not a big fan of selling breaks, but in this case I think it might make sense with a tight trailing stop back above .8200?

That’s me done for the day, catch you tomorrow and good luck out there++

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